Cotemar is the Backbone of Mexican Oil & Gas Industry

Cotemar is considered the backbone of Mexican oil & gas industry due to the offshore services it provides to Pemex which is also known as Petroleos Mexicanos. The company was founded in 1971 to serve the Mexican energy industry. With the passage of time, Cotemar transformed itself into a top service provider in strategic fields like specialized vessels and catering & accommodation, especially in Campeche Bay area.

 

 

The company uses leading technology to provide efficient processes to contribute to the oil & gas production. For almost four decades, Cotemar is continuing to provide Petroleos Mexicanos with efficient and result oriented solutions to meet their industrial needs. Cotemar provides them services like maritime support, accommodation & catering, specialized vessel, construction, modernization, maintenance, and engineering.

 

 

Recently, Petroleos Mexicanos canceled two contracts with Cotemar due to fluctuating international oil prices. However, Cotemar is confident of overcoming the crisis. According to an official, it is a normal thing to happen in this sector due to reasons like a budget cut. Cotemar is not the only company to be affected by this move. However, it has made Cotemar delay renewing of boats from specialist company Prosafe.

 

 

Prosafe has confirmed that its work with Cotemar is affected by the budget cuts made by Petroleos Mexicanos. Cotemar was working with Prosafe to get three semisubmersible work platforms. As a result, Prosafe had to lay off two thousand personnel due to the cancellation of the vessel’s order. The workforce of Prosafe is now reduced to five thousand people.

 

 

Cotemar is continuing to operate specialized vessels for the National Oil Company. The vessels are used for the purpose of personnel transportation, maintenance, and construction of production platforms. According to Manager of Prosafe, Cotemar also uses fleets of other companies. Cotemar still has other contracts with Petroleos Mexicanos, and it is using large fleets of several boats for that purpose. Prosafe is hopeful of things getting stable.

 

 

In 2015, the prices of crude oil went down to as low as fifty dollars per barrel. As a result, Cotemar had to lower its equipment’s renting price. The manager of Prosafe denied that he criticized Petroleos Mexicanos. He showed support to the company for making necessary changes in contracts and management. According to him, the actions taken by Petroleos Mexicanos is by international trends. Cotemar is working on the modernization and innovation of its offshore rigs and processing centers.

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