Cotemar, the leader in the servicing sector of the oil industry in Mexico, is planning to make a revolution in the oil exploration and refining in the coming years. Due to the slow pace of the Mexican oil industry, the government has planned to open the doors to private players including Cotemar in 2016. It is considered to be a significant milestone in the century-old industry of the country which was ruled by state-owned firms until recently. The industry was dominated by Pemex, a company owned by the Mexican government, but it couldn’t cope up with the transitions in the technology and changing world conditions around the oil industry.
Additionally, Pemex couldn’t make any innovation in the industry for the last few decades. This led to a crunch situation of the firm following old technology and techniques where the rest of world was going through the quick transition in every aspect. It is understood that the monopoly or the single player in the industry was the real problem as there was no competition expected inside the country. Since Mexico was a country which depends on its oil industry primarily, the stagnation caused the shrinkage of the economy of the country as well. Though it was seen for a decade, the recent years showed that the industry was heading to a disaster.
Due to this, the government decided to open the space for private companies as well, and Cotemar and some other private firms won the bids of oil fields in 2016. With decades of experience in providing high-quality services to oil industry companies, particularly Pemex, Cotemar is expected to bring innovation and state-of-the-art technology to the industry which can prevail the oil industry from the disaster. The oil industry would also expect to get efficiency and sustainable solutions with the help of new entrants. Additionally, Pemex also would improve its operations considering its competition with private players and would be forced to go for innovation and implementation of the latest technologies.
Cotemar is an oil industry servicing firm founded in the year 1979. Currently, it offers three services namely, Specialized Maritime Support Vessels; Accommodation and Catering; and Construction, modernization, maintenance, and engineering. The company follows a mission of servicing oil industry with environmental protection, high quality and security, efficient process and thereby effectiveness to clients, keeping institutional values, etc. Cotemar is an ISO 9001: 2008 certified firm for its business activities for efficient operation processes. It has also got the approval of International Safety Management for various maritime activities.