TOGY talks to
Halliburton exec on Mexico’s oilfield services sectorJanuary 3, 2019
Hermes Aguirre, country vice-president for Halliburton in Mexico, talks to TOGY about how the local oilfield services sector will likely evolve, the company’s plans and strategy in Mexico and the impact of new technology. Oilfield services giant Halliburton works with operators in the country’s onshore and offshore E&P projects.
• On project interest in Mexico: “Halliburton views the Mexican market favourably and sees a tremendous commitment from the international oil companies and other operators across the E&P landscape. Big players such as integrated majors are continuously investing in the country and starting exploration projects.”
• On EOR work: “One of the significant challenges in the region is reservoir recovery, which is driving greater investment in exploration to increase declining reserves. We are aware that these projects will play a key role in operations for the next four to five years. Additionally, these projects will demand high levels of technology and we are prepared to offer these services.”
Most TOGY interviews are published exclusively on our business intelligence platform, TOGYiN, but you can find the full interview with Hermes Aguirre below.
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What are Halliburton’s key operations and services in Mexico?
Halliburton has had a strong presence in Mexico for over 70 years. The company expanded its presence in Mexico through its business lines and technology offerings for onshore and offshore projects. Offshore projects currently account for 80% of the country’s production, which translates into a high demand for Halliburton’s products and services.
Moreover, exploration is another key activity in the country, and we work closely with operators to locate new reserves and produce them economically. Remarkably, Halliburton has participated in all the inland exploration and development programmes with a major operator to help the company drive greater returns and maximise its asset value.
What is the activity outlook for oilfield services providers and the ramp-up of offshore activity?
Halliburton views the Mexican market favourably and sees a tremendous commitment from the international oil companies and other operators across the E&P landscape. Big players such as integrated majors are continuously investing in the country and starting exploration projects.
One of the significant challenges in the region is reservoir recovery, which is driving greater investment in exploration to increase declining reserves. We are aware that these projects will play a key role in operations for the next four to five years. Additionally, these projects will demand high levels of technology and we are prepared to offer these services.
How will Halliburton approach oilfield services in light of the new government’s commitment to boost investment in Pemex?
Halliburton has worked around the globe with different national oil companies, so we understand the responsibility and changes that those companies go through when there is a government transition.
We will continue to work with the new administration – as we have with previous administrations – and maintain strong relationships, from top management to employees in the field. The company is committed to the region and aligns its business with customers’ challenges, collaborates to deliver the right solutions and helps operators increase their recovery.
How can the company’s new technologies enhance efficiency?
Technology plays a vital role in how Halliburton helps operators reduce costs and increase production in onshore and offshore applications.
One example is providing new stimulation vessels to Mexico that will help operators produce wells earlier to save valuable rig time. In an onshore play, Halliburton deployed its JetPulse high-speed telemetry system, which allows operators to make faster decisions to optimise well placement and improve well control while increasing drilling efficiency. Halliburton also uses the XtremeGrip expandable liner hanger system in Mexico’s complex offshore wells, which provides versatility and strong reliability to help eliminate costly downtime.
What is Mexico’s significance in Halliburton’s growth plans in Latin America?
Halliburton is well established in Mexico and plans to expand by further understanding the unique challenges of the country and the opportunities they provide for services companies.
For example, we plan to reactivate our presence in deepwater projects and expand onshore in northern Mexico. We also see opportunities in helping the country increase its gas production, as there are many important reserves to participate in. We have a large portfolio of services providers and national companies that collaborate with us to ensure new projects are developed.
In terms of employment, we continue to grow local talent in the company and almost 97% of our staff is Mexican. Halliburton supports the local economy and has a large number of Mexican professionals working internationally as well. It is important for our employees to learn about new challenges and broaden their scope of the business to provide tailored solutions that help our customers.
What are Halliburton’s objectives for 2019 and what is the company’s medium-term growth strategy?
Our value proposition remains constant: to collaborate and engineer solutions that maximise our customers’ asset value. This drives virtually every aspect of how we approach and win work and, ultimately, how we execute to deliver results. Our growth throughout the region is based on the strong relationships we have cultivated with operators and how we apply technology and expertise to solve challenges.
For more information on Halliburton in Mexico, see our business intelligence platform, TOGYiN.
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