Energy Talks # 19 – Rogério Ibrahim

By Rafael Bortoloti

In a period marked by the expansion of offshore activity in Brazil, driven by pre-salt developments, new oil discoveries, and growing discussions surrounding the Equatorial Margin, the drilling segment has once again moved to the forefront of the oil and gas industry. Despite its strategic importance to the offshore chain, drilling remains a topic that is rarely explored in depth within industry discussions. A gap that One.Energy magazine aims to address in this edition of Energy Talks. For the first time, the interview series dedicates an extensive and exclusive conversation to the drilling market in Brazil, covering operational challenges, technological innovation, competitiveness, safety, ESG, and market outlook.

To open this discussion, we spoke with Rogério Ibrahim, CEO of Foresea, one of the leading references in offshore drilling in Brazil. Since the company’s foundation, Ibrahim has led a business that has distinguished itself through operational excellence, the development of pioneering technologies, and the continuous utilization of its entire fleet in a highly competitive market shaped by major international players.

During the interview, the executive discusses groundbreaking projects developed by Foresea, including innovative solutions designed to enable the safe operation of drillships in shallow-water environments. He also addresses the impacts of the current geopolitical landscape on the industry, analyzes the momentum of Brazil’s oil and gas sector, and comments on the challenges of developing new talent for the drilling market. Ibrahim further shares his views on leadership, innovation, and Foresea’s long-term vision, offering a comprehensive perspective on one of the most strategic segments of Brazil’s offshore industry.

The name “Foresea” combines the concepts of forecasting and the sea. With that in mind, how does this ability to anticipate translate into the company’s strategy?

The name Foresea was intentionally created to combine the idea of forecasting with the sea, reinforcing our ability to anticipate scenarios and adapt in order to deliver the best solutions in the maritime environment. That capability is built, first and foremost, on knowledge. Foresea has teams with more than thirty years of experience in the sector, and that experience translates into accumulated expertise and analytical capability. We are a company focused on solving our clients’ demands through innovation and operational excellence. This is reflected in our knowledge base, our ability to project scenarios, and our capacity to strategically plan our operations.

Still on the topic of competitive scenarios, at the end of last year Foresea announced the development of a new technology that enables deepwater drillships to safely operate in shallow-water wells, with water depths below 400 meters. Could you elaborate on this project and its current stage?

This project is one of several pioneering initiatives developed by our Innovation department. To explain this technology, it is important to first mention an earlier development — the anchored BOP solution, which was pioneered on our semi-submersible rig Norbe VI. This solution combines the BOP anchoring system — the Blowout Preventer being the safety equipment responsible for controlling well pressure — with real-time riser analysis.

This innovation allows dynamically positioned rigs, which are typically deployed in deepwater environments, to also operate in shallow-water wells without requiring anchoring on the seabed, enabling faster operations and reducing environmental impact on the ocean floor. The anchored BOP solution earned Petrobras an international award at OTC Brasil 2023.

Building on that development, Foresea created a new solution for our drillship Norbe VIII, once again combining an unprecedented set of technologies that enables a dynamically positioned drillship to remain connected to a shallow-water wellhead — in water depths below 400 meters — with a level of precision control and operational safety that currently does not exist anywhere else in the world. This technology is already being installed on the Norbe VIII, which is expected to be ready for shallow-water operations during the first half of 2026.

Foresea has reportedly kept its entire fleet contracted since its foundation in 2023. What explains this performance?

Yes, we have maintained our entire fleet fully operational over the past years due to the quality of delivery we provide to our clients, always prioritizing safety and operational excellence. Foresea currently holds the best operational performance in the market. We closed 2025 with an average uptime close to 99%, winning Petrobras’ PEO-Sondas — the company’s Operational Excellence Program for drilling rigs — for the fourth consecutive time. This is the most important technical and management evaluation conducted by Petrobras. In addition, during OTC Brasil, we were recognized by Petrobras as the best offshore drilling operator.

Is the expansion of Foresea’s asset portfolio currently under consideration?

We are constantly monitoring the market and remain ready to evaluate any strategic business opportunities for the company. Expanding the size of our fleet is always part of our investment assessments. However, any investment decision must be accompanied by rigorous risk analysis and strong financial discipline, always with the objective of delivering returns to our shareholders without compromising our performance standards. We are not interested in growing simply for the sake of growth.

What supports the slogan “Foresea, market leader”? Which aspects characterize the company as such? And how was it possible to achieve these results in less than three years, in a market with strong international competition?

There are several factors that place Foresea in a leadership position within Brazil’s offshore drilling segment. As mentioned, the company has maintained all of its rigs contracted while also expanding operations through the management of third-party rigs. Foresea is also recognized for operational efficiency, with the highest uptime levels in the market and the industry recognitions previously mentioned.

We are also leaders in innovation, introducing groundbreaking technologies to the sector. In addition, we have become a benchmark in sustainability through pioneering socio-environmental initiatives — such as the recycling and reuse of 100% of our waste and investments in improving the quality of public basic education in Macaé — which further reinforce our leadership position within the industry.

In recent months, the offshore industry has been impacted by several developments, including the approval of exploration activities in Brazil’s Equatorial Margin and new oil discoveries. At the same time, geopolitical tensions involving the United States, Iran, and Venezuela continue to affect global oil production and distribution. Do you believe these issues spilling in Foresea in any way?

The entire oil and gas industry closely monitors conflicts in the Middle East and evaluates their direct and indirect impacts on the domestic market. Brazilian oil is increasingly viewed as a secure and cost-competitive alternative. At the same time, we are living through a period of geopolitical uncertainty and elevated risks, which may increase insurance and maritime freight costs, in addition to creating inflationary pressure that affects overall operating expenses.

ESG has become an increasingly relevant topic. How does Foresea incorporate these practices into its strategy and operations?

I will begin with the “S”, the social pillar. Foresea maintains a strong commitment to people. This means ensuring high standards of safety, integrity, physical and mental health, well-being, training, and development for all employees, both onshore and offshore. It also means extending support to partners and local communities, such as Macaé, where we maintain our office and support local development projects.

The “E” (environmental), is embedded both in our day-to-day activities, including waste management and circular economy initiatives already mentioned, and in our research, development, and innovation efforts, which focus on incorporating technologies aimed at reducing emissions and other environmental impacts. I would also highlight that operational efficiency itself contributes to reducing environmental impact.

Finally, regarding governance, we follow strict compliance, integrity, and ethics policies across our business operations, supported by continuous monitoring processes. In addition, our fleet is internationally certified, ensuring quality standards and compliance with global regulations.

Safety is a central pillar in the industry, and Foresea has received several awards in this area. How does the company maintain such high standards in its operations?

Safety culture is embedded in Foresea’s DNA. This means maintaining a permanent and explicit commitment that goes far beyond operational controls and safety monitoring systems. We continuously invest in campaigns and training programs for both employees and contractors, always maintaining a strong focus on safety.

We promote training programs covering national and international regulatory standards, customized courses for accident prevention in critical operations, and safety management initiatives. One example is the use of Observation Cards, through which employees identify and report unsafe conditions or behaviors so corrective actions can be implemented.

More broadly, our Digital Sustainability Program enables the digital completion of health and safety checklists, while our Human Factors Program expands our strategic approach to safety management through a governance model that encourages continuous improvement and operational evolution. Altogether, these initiatives form a robust and highly structured framework that reinforces our safety culture.

Could you also discuss Foresea’s initiatives related to developing new talent? How do you see the market for professionals interested in drilling?

Foresea’s strategy for talent development is based on three pillars: mandatory training, educational incentives, and professional development programs.

Mandatory training is primarily aimed at offshore personnel working onboard drilling rigs and includes compliance with legal requirements and client-specific contractual demands. Educational incentives provide subsidies for employees to pursue language courses, undergraduate and postgraduate programs, and other professional development opportunities within the oil and gas industry.

Our development programs are designed to align company culture and prepare employees for new career challenges across all technical and professional levels. One example is our Offshore Development Program (PDO), which accelerates talent development through supervised offshore assignments for internal professionals and selected candidates from the external market.

We also maintain a Leadership Development Program focused on principles and values, safety and risk management, communication, compliance, and career development. In addition, we created the Drilling Academy to foster knowledge exchange and continuous technical development among teams directly involved in drilling operations.

Could you tell us a little about your professional trajectory before joining Foresea? You worked for major companies such as Odebrecht and Vale. Which lessons and experiences from that period still apply to your current role as CEO of Foresea?

Most of my professional experience has been concentrated in management and planning. I graduated in Civil Engineering from IME, the Military Institute of Engineering,  in 1983, and shortly afterward completed a postgraduate degree in Business Administration at Coppead/UFRJ.

I then joined Vale, where I was responsible for Commercial Planning. Later, in 1998, I joined Odebrecht and worked across several areas, including Controllership, Treasury, Projects, and Corporate Finance. That experience gave me broad exposure and eventually led me to CFO positions at several group companies, including Odebrecht Engenharia & Construção, Santo Antônio Energia S.A., Odebrecht Energia, and later Ocyan. When Foresea was established, I assumed the company’s presidency.

I believe that this trajectory within major corporations across strategic sectors of the economy allowed me to develop highly relevant competencies, including financial restructuring, digital transformation, and high-performance team management, all of which contribute directly to my current role leading Foresea.

You have a background in Civil Engineering. How has this technical foundation contributed to your business vision and leadership style in such a complex sector as offshore?

I see Engineering as a discipline that naturally fosters leadership across different sectors because, beyond technical knowledge, it develops structured thinking focused on creating viable solutions for complex challenges.

Engineers are trained to maintain a systemic and strategic perspective, understanding how each part influences the overall result. This is extremely important for decision-making processes.

More specifically, civil engineering provides knowledge related to structures and materials, planning, logistics, cost management, and risk management, all of which are directly connected to offshore operations and business activities.

Finally, what is your vision for Foresea over the next five to ten years?

Foresea has very positive long-term prospects for several reasons. First, we believe the Brazilian oil and gas market is currently one of the most attractive in the world. Brazil already represents more than 30% of global demand for offshore drilling contracts and is entering a new growth cycle.

We are confident that Foresea is prepared to play a leading role in this expansion. The investments we are making are aligned with that objective. Our priority is to maintain Foresea’s leadership position within the sector, fully prepared to capture market opportunities while sustaining high operational performance and environmental safety standards.

Thanks, Ibrahim