The entry of Cotemar, a leading petroleum servicing firm, into oil refining, has created some expectations about the Mexican oil industry. In a recent move, the Mexican government opened the oil and gas exploration and refining services to private players as well – an exclusive industry for state-owned firms for decades.
The industry was almost entirely ruled by Pemex, a state-owned company, and this monopoly has created inefficiency, lack of competitiveness, and absence of innovation over the years. These factors contributed to the slowdown of the industry completely, especially post millennium. It also factored to the slowness of the economy of the country as well – the Mexican economy is largely depended on oil and natural gas revenue.
The Mexican government was quick to identify the reason for the slowness of the industry and decided to open it for the private players. In 2016, the first round of allotting blocks started, including deep water tenders. In the round, Cotemar, Petrobal, Nuvoil, Renaissance Oil, Diarqco, and Sierra Oil joined the stream of the movement that is seeking a renewed energy industry for Mexico. Read more: Cotemar | LinkedIn
The Government of Mexico expects that the new players would add the innovation, competitiveness, and efficiency to the sector and make it providing a world-class service. Additionally, it is expected that when Pemex is forced to compete with private players, it would be demanded to change its strategy and would go behind technology and innovation.
With almost four decades of high-quality service in the oil servicing industry, everyone expects another wonder for Cotemar.
Cotemar was founded in 1979 to provide onshore and offshore services including, maintenance, operational support, and modifications, to oil and gas sector players. It is known for providing safe, efficient, and compliant operations in the petroleum servicing.
Cotemar offers EPC – IC services; asset solutions; maintenance, modifications, and operations; and operational support. The EPC – IC services include facility engineering and design, turbomachinery installation, gas management and recovery, security and safety systems, and more.
The asset solutions include turnarounds and outages, production engineering optimization, and more. The operational support includes logistics, accommodation and catering, offshore drilling, and more.
Cotemar is a servicing firm that deeply focuses on its values, integrity, reliability, innovation, collaboration, and responsibility. It is committed to providing sustainable solutions considering its concerns with the escalating environmental issues day by day across the world.
Additionally, it keeps a long-standing relationship with the communities it works with and ensures their consistent progress.