Founded in 1979, Cotemar has become Mexico’s largest provider of petroleum services. It has traditionally only had one client, state oil monopoly, Pemex. This unusual relationship is a product of Mexico’s nationalized oil regime. Since 1938, Pemex has been the only corporation authorized to own oil wells or disburse contracts pertaining to oil extraction throughout Mexican territory. This has brought both great benefits and great hardships to companies like Cotemar, who relied solely on this one general contractor for all of their business.
A burgeoning firm branches out towards the sky
Cotemar started with just a couple rickety vessels and a burning desire to grow. They couldn’t have entered the market at a more propitious time. The 1980s saw the Mexican oil industry explode into a boom period which was unprecedented, not just in Mexico, but in all of the Americas. Mexico frequently vied for the title of Western Hemisphere’s largest oil producer. This brought a time of such prosperity to the country that it was fundamentally transformed from a swampy, third-world backwater into the thriving economic engine that was the envy of Latin America. Throughout this period, Cotemar quickly expanded, acquiring new vessels and technologies but, most importantly, acquiring highly talented people and valuable experience.
The boom continued through the end of the 90s. Throughout all of this, Cotemar continued expanding and, like the nation itself, proceeded transforming itself from a simple operation into a sophisticated, world-class producer.
Since 2004, the Mexican oil industry has experienced an unprecedented decline. But what Cotemar learned for its first 25 years of great prosperity will serve it well into the future. Cotemar currently has over 30 vessels, including large transport ships for both personnel and crude oil as well as the nation’s largest towing ships. Cotemar will continue to be an indispensable partner to whoever ends up running Mexico’s largest oil assets.
In addition to this, Cotemar has gained a reputation for providing an experience that rivals what can be found at five-star resorts to the many workers on Mexico’s oil rigs. From serving world class cuisine to providing accommodations unlike anything sea-going employees enjoy elsewhere, Cotemar has helped to make Mexico’s oil platform jobs among the most highly sought-after in the country.