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Q: How has Nuvoil evolved along with the Mexican oil and gas market over the last year?
A: Our growth targets are in line with our specialty business lines which has led us to increase our participation in secondary recovery and compression services. Nuvoil has grown significantly through its projects with PEMEX and other important oil and gas participants. We have also boosted our capabilities by consolidating a strong partnership with Enerflex, a leading Canadian product and services supplier. After Enerflex acquired Valerus, our previous compression solutions partner, we embarked on this new relationship to cater to our projects in Mexico. All in all, compression activities have been our most important business line in the past year. We recently began working arduously on various offshore compression projects and are proud to highlight that our work in offshore compression is helping to significantly reduce gas flaring. We have proposed a very ambitious offshore compression project that is unprecedented in Mexico. Our compression-exclusive jack-up will be handling production from Cantarell and is expected to compress more than 200mcf/d. This project proves our capability to deliver solutions that are driven by constant innovation and strong worldwide partnerships. At the same time, we have continued to deliver onshore compression solutions while keeping a strong presence in mature fields through jet foam injection and air injection. Nuvoil carried out the first air injection project in Mexican history and we now stand ready to become leaders in this state-of-the-art solution for marginal and mature fields. Given that these fields will see PEMEX inject air into its wells for the first time, these projects will play an important role in the company’s overall portfolio. We will initially be delivering these solutions in the South Region, close to the Cárdenas field. In addition, we are also looking at business opportunities in the installation of subsea lines for well pumping stations that will be connected to offshore configurations. We are currently in the engineering phase and we hope to cater to PEMEX and other players with highly advanced solutions in this segment. Nuvoil has set another target: winning its first contract outside of Mexico. We are aiming to take our portfolio to new markets so that we can continue our growth as a strong solutions provider for key oil and gas industry stakeholders. We are already participating in bidding processes in Venezuela and Cuba, and we hope to tap into other countries in the Americas over the coming years. Our main goal is to deliver our in- house technologies to these countries, becoming a world- class provider of compression and enhanced oil recovery solutions.
Q: What differentiates your services from those provided by your competitors in the Mexican oil and gas industry?
A: It is very important to highlight that we do not offer products but particular case-specific solutions. If a project requires a given service, we will naturally offer it, but our main objective is to exceed a given contract’s requirements. For example, Nuvoil included telemetry in its services to PEMEX from the very first contracts it had with the NOC even though this was not required. PEMEX was not fully aware of the importance of telemetry at the time but we included this all the same. We offer services like these whether our client asks for them or not, which puts Nuvoil at a competitive advantage.
Q: What are the pillars of Nuvoil’s future competitiveness?
The Mexican Institute of Competitiveness (IMCO) defines competitiveness as having two essential components: retaining talent and attracting investment. If a company is able to dominate these two areas, that is, become an excellent choice for employees and seize investment opportunities, competitiveness will come naturally. Our well-structured management model will put us at the forefront as the Energy Reform is being implemented. Given that competitiveness will be crucial in Mexico’s reshaped industry, we have decided to base Nuvoil’s corporate structure on taking care of our workers, providers, clients, stockholders, the government, and of course, the community and the environment. In doing this, we are confident that we will be able to grow sustainably over the coming years. In addition, we are dedicating ourselves to finding Mexico’s most talented individuals. Even though Mexico’s private industry and academic institutions have not historically done well in preparing individuals for specialized positions, we believe that this is changing as a result of the Energy Reform. Finding and retaining talent will be pivotal in Nuvoil’s strategy since we know that highly- skilled individuals with the right expertise are scarce in the oil and gas industry. Given that PEMEX has most of the country’s well-trained oil and gas workers, we are looking at the possibility of luring PEMEX experts from different fields of the oil and gas industry. If we stick to the idea of promoting competitiveness, attracting new talent will not be so difficult.