UK subsea companies are being encouraged to join a trade mission in March to explore energy sector opportunities in Brazil.
The event in Rio de Janeiro has been organised by the Department for International Trade (DIT) in association with a range of bodies including Subsea UK.
It is aimed at showcasing Britain’s capabilities in the energy industry, enabling firms to share expertise and consolidate partnerships for Brazil’s oil and gas sector.
Brazil is the largest energy market in South America, with state-owned Petrobras planning to invest over £50billion over the next four years.
Subsea UK is seeking to help strengthen partnerships across the globe as part of UK Government targets to double Britain’s exports by 2020.
The industry body will lead the subsea section of the showcase, connecting 12 UK firms with some of the most influential energy players in Brazil.
Companies will also go on site visits organised by the Brazilian DIT team.
The trade mission will take place from March 19-21.
Neil Gordon, chief executive of Subsea UK, said: “Brazil is the largest energy market in South America and has the second largest oil reserves in Latin America.
“Petrobras plans to invest over £50 billion over the next four years so there is clearly a major opportunity for UK companies.
“This mission will provide delegates with an opportunity to gauge business potential in the country, build a local network of contacts and visit the most important energy hubs in Brazil.
“At Subsea UK we work hard to support companies in fast-tracking their international growth by exploring new business prospects around the world.
“By continuing to work with the Department for International Trade, we can further strengthen these ties and help UK firms break into the markets which hold the most potential and who are actively seeking what we can offer.”
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