FloaTEC President Eric H. Namtvedt to Address Pre-Salt Brazil Congress in Rio de Janeiro in September

Rio de Janeiro, Brazil, September 02, 2011 --(PR.com)-- The Brazilian pre-salt shows the industry's continued ability to adapt to new challenges and come up with new and innovative solutions to find and extract oil in new areas, says Eric H. Namtvedt, President of FloaTEC, a deepwater floating production systems producer. He is joining a high-level line-up of industry experts at the upcoming Pre-Salt Brazil Congress in Rio de Janeiro from 26-28 September when international oil and gas operators will meet with the state-run body Petrobras and other government institutions.

Involved in Brazil from inception
FloaTEC has been closely involved in the Brazilian oil industry since the company's inception in 2005. Says Eric H. Namtvedt: "We have carried out several field development and conceptual studies for Petrobras and for other major oil companies operating in Brazil. This culminated with being awarded a turnkey EPCI contract in 2010, the first TLP to be installed in Brazil, the Papa Terra P61 TLWP. To fulfill local content requirements, P-61 will be built in Brazil, at Keppel's BrasFELS yard in Angra dos Reis. We are also participating in the development of production and drilling concepts for Santos Basin and model testing ultra-deep water platforms in Brazil."

The company has also established an operation center in Brazil. FloaTEC's President continues: "The Extendable Draft Semisubmersible (EDS) & Deep Draft Semisubmersible (DDS) Model tests for Pre-salt Santos Basin environment conditions that are ongoing at Lab Oceano, will be key in developing a better understanding of the operating conditions and will continue the strong cooperation with the research communities in Brazil."

Political and economic stability
Mr Namtvedt says FloaTEC's suite of expertise, tools and experience is particularly suited to the ultra-deepwater environment in the Brazilian pre-salt. He continues: "The Brazilian pre-salt developments provide the world oil industry with a new and significant source of new reserves that is in a region of political and economic stability and a large pool of expertise to explore and extract it. What we see happening in the Brazilian pre-salt shows this industry's continued ability to adapt to new challenges and come up with new and innovative solutions to find and extract oil in new areas, regardless of whether the nature of these challenges are technical, requires major infrastructure improvements, possible modifications to political environment, rules and/or regulations."

Petrobras "a very good customer"
FloaTEC have found Petrobras to be "a very good customer that has many highly experienced professionals who are extremely dedicated to their work and who treat their contractors fairly, and with mutual trust." Eric H. Namtvedt adds that the state-run company's decision to use a Tender Assisted Drilling dry-tree TLWP in the challenging environment of Brazil is a testament of "their willingness to go in new directions as well to look at the use of TLP's, SPAR's and Deep Draft Semi's for dry tree applications in Brazilian ultra-deep water, as we have been doing for them. Petrobras has deep and broad technical capability through CENPES."

More high-level speakers who will be at the Pre-Salt Brazil Congress include:
- Magda Chambriard - Director - Nacional Oil Agency
- José Aníbal - Energy Secretary - Department of Energy | São Paulo
- Laelson Aparecido Martins - Sectorial Manager - PETROBRAS
- Ricardo Peixoto - President - Petrogal
- Márcio Félix - Development Secretary - Espirito Santo's State Government
- Maurício Tolmasquim - President - Energy Research Company
- Fernando Fialho - Managing Director - National Agency of Waterway Transportation

Event dates: 26-28 September 2011
Location: Centro de Convenções SulAmérica, Avenida Paulo de Frontin com Avenida Presidente Vargas - Cidade Nova - Rio de Janeiro, Brazil.

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