Competing with those you’ve avoided because you think they are too competitive in the first place is one of the weakest things a competitor should do. After all, you never know when they’ll need you by their side. This is what’s happening in some offshore oil rigs; with the a $45 billion investment and 30 contracts of auctions to date on offshore exploration and production in the offshore maintenance and oil production, companies like Cotemar and others are needed.
Rewind back to the 80s
According to the Energy Secretariat of Mexico, a major research project went underway. The Perdido fold-belt in the northwestern deep Gulf of Mexico, rests in water depths of 7,500-10,000 feet. The so-called consortium consisted of four industrial companies back in the mid-1980s, and they consisted of companies like Texaco, Shell, Amoco, and Mobil. They all leased the mineral rights in this silent fold-belt in the mid-1980’s.
Fast forward because the silent revolution has begun in these deep waters off miles from the Mexican shores. Drilling is in demand. One major oil company that will be part of a huge billion dollar investment is Cotemar S.A. de C.V. (founded in 1979) and is based in Ciudad del Carmen, Mexico. Cotemar and several other private companies will be exploring offshore with a joint venture agreement that has been in the works for some time now.
The Mexican offshore oil company is known for their years of experience in the offshore oil industry. Some of their obligations to stay a reputable industrial oil company is to provide maintenance and services that all relate to the offshore drilling and exploration of oil fields in specific vessels.
Here are some of the duties Cotemar from Mexico has under their belt.
– The overhauling of platforms and process centers in offshore facilities
– Working on the decks for the construction of pre-manufactured equipment and storage areas
– Operating semi-submersible platforms
– Operating diving equipment for overhauling work of process lines and surveying
– Personnel food catering and accommodation services (i.e. food preparation, ironing services, laundry services, common area cleaning…)
– Provide recreational facilities (i.e. cinemas, gyms, basketball courts, entertainment rooms with television…)
– Operate vessels and the transportation of structures which are needed for oil exploration, such as abrasive bulk materials, barite, sand, mud,…to name a few.
– Processing along with the transport of oil and liquids that are extracted from the platforms
– Fire fighting services and hydrocarbons spill services
The belt offshore
According to the Energy Secretariat, it’s imperative that drilling is taking place off the Trion field. The exploration and production contracts meet the “threefold goal of increasing hydrocarbon production,” which will guarantee national interests of tax collection in forms of royalties. Also, one of the objectives is to reduce the limits of certain companies that have overtaken such areas like the oil giant Pemex and aligned them with other companies that are notably attractive in and favored in oil production as well. With that in mind, there are incentives to companies which vote with their investments “for the most favorable conditions” that will meet these goals.
There has been approximately 30 contracts of these specific auctions to date which will leave behind 7,000 mdd. In fact, the oil out of Mexico is considered an asset, not a liability to those of national interests. Maximizing the value, the government is still deciding to invest more in the Gulf of Mexico, Canada, or Nigeria.
With the main incentive being that the reform of drilling is considered “trivial” still because in this global society and environment, the largest country with the largest hydrocarbon reserves is still the U.S.
What is pending is the framework of legalities; this then becomes the challenge of hydrocarbons, energy, and the environment all together. Therefore, by accelerating with companies that are up to reinvention, it will change the most important factor in all the exploration of offshore oil exploration in the Gulf…that is a positive profit for the Mexican economy which is much needed.