OPCT3

OceanPact is a Brazilian company founded in 2007 in Rio de Janeiro, originally focused on environmental consulting and emergency response, with an emphasis on offshore oil spills. From its early years of operation, the company began to work on a recurring basis in major incidents in Brazil and abroad, including oil spills in Guanabara Bay, Paranaguá Bay and the Frade Field in the Campos Basin, as well as emergencies related to dam failures, shipwrecks and other large-scale accidents. In 2010, it was the only Brazilian company involved in the response to the Deepwater Horizon oil spill in the Gulf of Mexico, marking the company’s presence in one of the largest offshore environmental disasters in history. Its expansion path included joint ventures with Witt O’Brien’s, which led to the then Witt O’Brien’s do Brasil, and with the UK-based Gardline, which gave rise to the unit now known as OceanPact GEO, dedicated to marine data acquisition and consolidating one of the largest research vessel fleets in the country.

Over the 2010s, OceanPact went through a phase of capitalization and strengthening of its asset base. The entry of the Dyna II private equity fund, managed by Dynamo, enabled the construction of specialized vessels such as Fernando de Noronha and Jim O’Brien, used in standby contracts for environmental emergency response, mainly for Petrobras, its largest client. As of 2020, the company stepped up its use of the capital markets through debenture issuances, and in 2021 it carried out its initial public offering (IPO) on B3. The company’s common shares began trading on the Novo Mercado under the ticker OPCT3, with primary proceeds allocated to the acquisition and adaptation of offshore support vessels and the purchase of equipment for subsea activities, especially ROVs (Remotely Operated Vehicles). This move was accompanied by the acquisition of UP Offshore Apoio Marítimo, which added six vessels to the fleet and strengthened its role in subsea services.

OceanPact’s business model is structured into two major segments: Vessels and Services. In the Vessels segment, the company positions itself as one of the leading maritime support providers in Brazil, with a fleet of 23 operational vessels, predominantly contracted under long-term, day-rate models in which fuel is paid for by the client. These vessels include OSRV ships, dedicated to oil spill readiness and response; PSVs, aimed at supporting drilling and production units; RSVs, focused on ROV operations for inspection and maintenance of subsea systems; and AHTSs, used for maintenance of offshore terminals and support for offloading operations. In the Services segment, the company organizes its activities into business units that encompass Subsea & Geosciences, Oil Spill Response, and environmental, safety and risk management consulting through EnvironPact, which was consolidated after the full acquisition of the joint venture with Witt O’Brien’s and was recently strengthened by the purchase of Aiuká, specialized in rescue and rehabilitation of marine wildlife affected by environmental accidents.

The company’s operations are distributed across three major areas: Environment, Subsea Operations, and Logistics and Engineering. In Environment, OceanPact offers solutions that cover environmental protection, oceanographic surveys, environmental licensing and studies, operational safety and remediation. This front includes 24/7 readiness and response to emergencies involving oil, chemicals, fires and other incidents in offshore environments, ports, waterways, highways, railways and industrial areas, as well as training in incident command systems (ICS) and development of emergency plans required by law and licensing processes. In Subsea Operations, the company uses ROVs and research vessels to provide geophysical and geotechnical services, inspection, repair and maintenance of subsea structures, positioning, offshore construction support and asset decommissioning, a segment that gained relevance through specific contracts such as the decommissioning of the Congro buoy for Petrobras.

Its work in oceanographic and geoscience surveys involves operating research vessels equipped with onboard laboratories, using metocean buoys, current meters, ADCPs, CTDs and other instruments for real-time measurement of waves, currents and oceanographic variables. These data support coastal and offshore engineering projects, numerical modeling of waves and currents, and environmental assessments that meet the demands of regulatory agencies for issuing permits for maritime and coastal projects. The company also develops seabed habitat imaging, marine life monitoring, acoustic monitoring and underwater soundscape studies, in addition to solutions for determining offshore wind potential using buoys with LiDAR systems, contributing to offshore wind power generation projects. In the area of environmental licensing and studies, OceanPact works from the preparation of technical studies and reports to the management of socio-environmental programs, including air, water, noise, soil, fauna and flora monitoring, as well as plans for recovery of degraded areas and reforestation.

OceanPact’s commercial relationships are strongly anchored in the oil and natural gas sector. Petrobras, including its subsidiaries Transpetro and Petrobras Logística de Exploração e Produção, accounts for the majority share of the company’s consolidated net operating revenue, complemented by contracts with various international oil companies (IOCs) and independent operators such as Modec, Shell, Chevron, Equinor, Total, ExxonMobil, Repsol and other E&P and offshore service players. This customer base is concentrated in the production phase of the exploration and production chain, which tends to reduce exposure to oil price fluctuations associated with the exploratory stage. OceanPact also serves sectors such as power, mining, telecommunications, ports, shipping, tourism, fishing and aquaculture, but its core activity remains tied to maritime support and specialized technical services for the oil and gas industry, including international projects such as geotechnical campaigns for Petrobras in Colombia.

From a regulatory standpoint, the company operates as a Brazilian Shipping Company (Empresa Brasileira de Navegação – EBN) in the maritime support and port support categories, under authorization from the National Waterway Transportation Agency (Agência Nacional de Transportes Aquaviários – ANTAQ). ANTAQ regulates, supervises and oversees support navigation, defining technical, economic and legal criteria for granting and maintaining authorizations, as well as the rights and duties of companies, the free-competition regime, and safety and environmental protection parameters. OceanPact and its subsidiaries must meet requirements for regularity, continuity and efficiency in service provision and are subject to inspections, sanctions and, in severe cases, revocation of authorizations. The company’s activities are also subject to maritime regulations and the responsibilities of the Maritime Court and the Brazilian Navy, particularly with regard to the registration of shipowners and the ownership and encumbrances of vessels.

The environmental, social and governance (ESG) agenda is at the core of OceanPact’s value proposition, whose stated mission is to help ensure that the coastline, oceans and their resources are known, used and exploited with protection and conservation. The company carries out environmental mapping projects along extensive stretches of the Brazilian coastline, such as the Environmental Mapping for Emergency Response at Sea (Marem), which generated a robust database on beaches, species and coastal ecosystems and has been recognized in industry awards. In the field of innovation, the company invests in proprietary technologies, partnerships with research centers such as COPPE/UFRJ and the Brazilian Navy, and digital solutions such as the OceanPact Digital platform, which integrates environmental and metocean data, images and telemetry to support decision-making in offshore operations. These efforts are complemented by a qualified technical team with thousands of employees, including oceanographers, biologists and engineers from various specialties, which underpin the company’s ability to operate a specialized fleet and one of the largest inventories of equipment for oil spill response and oceanographic data collection in Latin America.

As a publicly traded company listed on B3’s Novo Mercado under the ticker OPCT3, OceanPact combines an asset-intensive business profile – especially offshore support vessels and subsea equipment – with strong technical and advisory content in environment, operational safety and risk management. The company continues to expand its activities through investments in its fleet, ROVs and digital platforms, as well as selective acquisitions that strengthen its service portfolio, especially in environmental consulting and emergency response. Its revenue generation is mostly concentrated in the Vessels segment, complemented by specialized Services, both structured to serve medium- and long-term contracts in the Brazilian and Latin American offshore markets, with an emphasis on deepwater and ultradeepwater oil and gas projects.