Cotemar, a major oil and gas servicing firm in Mexico, is on a mission to change the fate of country’s oil industry. For a long time, there was a stagnation in the sector considering the lack of innovation in it. For many years, only state-owned firm, Pemex, was allowed to do oil exploration and refining. This created a monopoly in the Mexican oil industry, which is the major contributors of country’s income. The non-aggressive strategy of Pemex also paid costly for the country along with inefficient exploring and refining processes. These resulted to a complete retardation of business, industry, and the economy of the country.
Finally, the Mexican government decided to open the doors to private players and called for their bids in tenders. A number of petroleum servicing firms including Cotemar shortlisted for the auction, and the country is expecting an acceleration in the number of barrels per day and business. Since servicing companies like Cotemar is known for innovation and quality service, the industry also expects that Pemex would be forced to compete with new players who were once its servicing firms. Pemex is expected to go for innovation and change in strategy to be aggressive in acquiring the business and capturing markets. If all these happens, it would be a journey back to the golden days of the country and its oil industry.
Cotemar is founded in the year 1979, to offer specialized vessels and food and accommodation services to the oil industry players. Considering there were no other major players, Pemex was its single client in the country. The firm slowly grew in the market, acquired its first rig in 1985, and increased its fleet size. In 2016, the company entered into oil exploration and refining business when the subsidiary of Cotemar, Servicios de Extracción Petrolera Lifting de México S.A. de C.V, acquired Cuichapa Poniente area. The firm wants to give world-class and sustainable energy services solutions in the oil industry by respecting the environment and ensuring the safety.
Currently, the company offers three types of services, namely Construction, modernization, maintenance, and engineering; Specialized Maritime Support Vessels; and Accommodation & Catering. Due to the world-class and efficient services it offers, the firm has won a number of certification from various industrial bodies. It is an ISO 9001: 2008 firm for its business activities being effective. Cotemar also won the International Air Pollution Prevention Certificate from International Safety Management for its maritime safety activities.
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