Commentary by Joachim Åkesson, Sales Director, Ace Well Technology
The Brazilian energy landscape presents a unique scenario, setting it apart from the rest of the world. As the largest oil producer in South America, and with vast reserves of ultra-deep oil*, Brazil holds a prominent position in the global energy market. Ace Well Technology has recently established a strong presence in Brazil with its innovative Ace Splice Carrier positioning itself as a key player in the market.
At Ace Well Technology, we have recognized the immense potential of the Brazilian market and have made significant strides in establishing our presence there. Our innovative tool, the Ace Splice Carrier, has played a crucial role in this endeavour. By offering cutting-edge solutions that address the specific challenges of the Brazilian energy sector, we have positioned ourselves as a key player in the market with growth potential.
Successful entry into the Brazilian Market with the Ace Splice Carrier
We made a significant entry into the Brazilian market last year. The introduction of the Ace Splice Carrier enabled us to establish position, securing different and repetitive orders for a major service operator there.
Among our extensive product portfolio, the Ace Splice Carrier offers a range of value propositions that set it apart from traditional alternatives. It provides users with enhanced flexibility and convenience thanks to:
operationally efficient and flexible technology
emergency splice capability
compatibility with different splice block vendors
Its suitability for high pressure wells prevalent in Brazil, along with its material flexibility, position the Ace Splice Carrier as a highly adoptable solution for service operators operating in the country.
This tool has proven to be highly effective in various projects, earning positive feedback and generating increased demand for Ace Well Technology's wider range of completion and construction tools. We have now also received orders for the ARC (Ace Ratchet Collar), securing projects with three major service companies in Brazil until 2026.
Looking at the future
As Brazil sets ambitious goals to increase its oil production by 70% by 2035**, we see tremendous opportunities for further growth and collaboration. Our expertise and dedication to delivering efficient and sustainable energy solutions align perfectly with Brazil major operators’ objectives.
While we currently don’t have any physical presence in Brazil, we are 100% committed to meeting customer needs in the region. To ensure strong connections with local clients, we have been actively engaged in frequent travel throughout the country. Our strategy is to increase our presence by looking into partners or even hiring personnel to cover the area permanently. This strategic move will further strengthen our ability to cater to the specific requirements and demands of the Brazilian market, demonstrating our dedication to deliver exceptional solutions and services.
As the Sales Director at Ace Well Technology, I am proud of the progress we have made in Brazil and excited about the future prospects. We are confident that our continued presence and contributions in the country will enable us to play a vital role in shaping Brazil's energy future.
*Source: International Trade Administration, Energy Resource Guide, 2021.
**Source: Mordor Intelligence