Toyo Setal is a business venture located in Brazil. It is a joint venture started by Toyo Engineering Corporation of Japan and SOG – Óleo e Gás SA of Brazil. Both of these are engineering firms who work on complex projects. Toyo, which has been operating in Brazil since 1965, has built a large number of projects across this country.
Toyo was motivated to enter into a joint venture because the federal government of Brazil had introduced a policy to have more Brazilian companies do government engineering projects. Also, the government wanted to promote the transfer of technology between Brazilian and foreign firms. SOG wanted to increase its growth in the industries in which it operates which are construction, chemicals, offshore drilling, energy, mining, and petrochemicals.
Having formed seven years ago, Toyo Setal is now looking to expand into other countries in Latin America such as Colombia, Ecuador, Chile, and El Salvador. This company is already operating in Western Africa as well. Its headquarters is in Sao Paulo and they have satellite offices in São José do Norte and Rio de Janeiro.
Petrobras is the government-owned oil and gas firm in Brazil. They have partnered with Toyo Setal on multiple projects both on land and offshore. In 2018, they were awarded the “Best Suppliers Petrobras” award in their “Engineering Works” category. This award was given mainly for their work on the FPSO P-74 project. They were able to complete this project 80 days before it was due. P-74 is an offshore oil field located in the Santos Basin. It can produce 150,000 barrels of oil each day. They can also produce up to 6 million meters of compressed natural gas each day as well.
Another place that Toyo Setal is working with Petrobras is in Itaborai, a city in Rio de Janeiro state. They helped to build a $1.2 billion hydrogen plant. It was completed in 2016. Toyo Setal designed this hydrogen plant and also provides equipment and materials to it. This hydrogen plant in one of Brazil’s most important energy projects and can produce nearly 165,000 barrels of oil a day.
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