Founded in 1969 out of the ashes of the old Emaq shipyard in Rio de Janeiro state, Projemar survived the ups and downs of the Brazilian oil sector for nearly five decades, consolidating itself as a leading local supplier of marine engineering services.
However, the sharp drop in oil prices, coupled with the critical financial situation faced by Petrobras and the federal government’s intent to lower local content for future offshore projects, has taken a toll on engineering.
“The
