Yann Kirsch
Business Development and Planning Director
Goimar
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View from the Top

Preparing for Rising Drilling Demand

Wed, 01/25/2012 - 09:04

Q: What was the rationale behind the strategic decision to shift from integral solution provider in the oil and gas industry to rig owner and operator?

A: Goimar is a well-established, fast-growing Mexican company that was founded in 1996. Throughout the years and with our qualified and experienced personnel, we have become one of the leading service providers for the Mexican oil and gas industry. We operate modular platform rigs, semi-submersible rigs, jackup rigs, support vessel and provide structural and architectural maintenance to oshore drilling rigs. We are committed to servicing our customers’ needs, and our vertical integration allows us to do just that. Some fundamental changes are taking place in the Mexican oil and gas industry, across diverse areas including technologies, safety standards, training, and Pemex’s overall growth vision. By transforming into a significant rig owner and operator in the market, Goimar is well positioned to provide solutions for those shifts.

Q: What have been the critical success factors in the cooperation between Goimar and one of China’s leading integrated oilfield services providers COSL?

A: Goimar and COSL together anticipated the growing market for drilling rigs and were able to oer Pemex an integrated solution at the right moment. With its unique corporate and construction management structure, COSL was able to manufacture and deliver the rigs on time. We both share core values that have distinguished our partnership since the beginning: integrity, respect, discipline, dedication and a win-win attitude by balancing both companies’ interests and establishing adequate values to continue our team work. Our cross-cultural dierences have not been an obstacle, but rather a driving force to achieve success. We currently have five oshore drilling rigs working with Pemex.

Q: Pemex is looking to significantly increase its shallow water fleet in the coming years. What opportunities will this provide for Goimar, not only in terms of platform construction and leasing, but also in terms of supplying equipment and services to Pemex’s rapidly developing oshore infrastructure?

A: Pemex is a major driver of the Mexican economy. Its main goal is to recover oil production capacity to 3.0 million bbl/day from the current 2.5 million bbl/day. In order to achieve this, Pemex will have to increase its demand on 300-foot and 350-foot jackups, as well as 3000hp self-erecting high-spec modular rigs. The limited worldwide availability of units that meet Pemex requirements and specifications has created an investment opportunity for Goimar and other companies. Financial institutions, international banks and the international press have focused their attention on these opportunities to help Mexican companies grow by investing in their projects. By targeting this high demand from Pemex, the Mexican oil and gas industry will develop and mature in ways never before seen.

Q: What is the expected impact of the shift to new oshore locations, including deepwater areas, on the infrastructure and technology requirements for oshore service providers such as Goimar? What role could companies like yours play in Mexico’s deepwater development?

A: Deepwater development has been on Pemex’s list of priorities for the past few years in order to increase production and make sure it remains one of the most important oil companies in the world. In order to do this, millions of dollars have been invested in R&D to prepare the fields and the companies for the challenge. Recent international events have made this objective somewhat slower to achieve, and Pemex has adopted dierent strategies to tackle this. Deepwater development requires a specialized, more experienced personnel, and Goimar has been working very closely with dierent international companies to prepare itself for this new era.

 

Goimar is a Mexican service provider for the oil and gas industry. In 2006, the Chinese company China Oilfield Services Limited (COSL) signed agreements with Goimar for the construction and service provision for four module rigs in the Gulf of Mexico. Yann Kirsch talks about the successful elements of this cooperation and presents an outlook on the opportunities he sees for his company considering Pemex’s future demand in shallow and in deepwaters.