Oceanteam is well-positioned in several important oil and gas exploration basins and is rapidly expanding its presence in areas that play a key role in the development of offshore wind farms. In addition, about 10 percent of our revenues come from the global umbilical installations segment.
The situation in the North Sea is challenging and we have made other regions part of our future growth strategies, including Latin America, West Africa and Asia Pacific. The diversification of our global business units makes us better able to deal with setbacks such as decreasing oil prices.
Geopolitical tensions mean regions develop at different speeds. Oceanteam has chosen to focus on stable regions and to team up with strong local partners with proven track records in their respective markets. A diversified client base also helps us increase our expertise and develop in different markets.
Responding to the demands of today
Contractors demand both flexible and efficient solutions that seamlessly connect to their own business. Oceanteam is able to meet these demands. Extensive standardisation allows us to customise our equipment quickly at competitive prices. Our turntables, for example, can be delivered within a three-month time frame.
DOT Shipping: exploring new ground
Mexico is amongst the top 10 largest oil producers in the world and ranked in the top 20 in terms of gas production. Over the last five years, the US side of the Gulf of Mexico decommissioning market has witnessed record levels of activity and expenditure, due to changes in federal regulations and declining shelf production. Recent energy reforms in Mexico saw certain restrictions on the state-owned oil company Pemex lifted to allow improved access to foreign businesses. More importantly, Subsea UK notes that the reforms also open up the region to international operators for deepwater development.
To take full advantage of the opportunities offered by these developments, Oceanteam has teamed up with Diavaz to found DOT Shipping. This company focuses on providing high-end vessel solutions for the Mexican market and successfully delivered two FSV new-builds at the end of 2014. Diavaz is one of the most experienced companies in the Mexican oil and gas market and has developed a sound knowledge of the energy sector. The company is active in marine operations, gas and exploration and production.