Genesis Oil and Gas Consultants Ltd announced today that it has signed a binding agreement to acquire Suporte Consultoria e Projetos Ltda, (Suporte) a Brazilian pipeline and structural engineering company based in Rio de Janeiro. Brazil is one of the fastest growing oil and gas markets in the world and this acquisition will significantly enhance the position of Genesis in this country, after the inauguration of a new operating center in Rio de Janeiro in 2011.
This transaction will enable Genesis to:
- Increase immediate access to the Brazilian growing market,
- Strengthen its relationships with Brazilian customers,
- Add significant skill sets to the global subsea team,
- Expand its workforce with 80 talented people.
Genesis has been working with Suporte since 2002, with a first joint contract to design a gas export pipeline for the Campos Basin in Brazil.
"Brazil offers great opportunities for the Genesis team to grow and expand its global operations. The acquisition of Suporte will help us provide subsea and consultancy services to all our customers in Brazil. It also allows us to offer further opportunities to local people. The Suporte engineering team and its well-established local customer base will constitute a solid ground for the future development of Genesis in Brazil."
John Cambridge, Managing Director of Genesis