Baker Hughes, a GE company (BHGE), has been in the market since July 2017 when we announced the transaction combining GE's oil and gas business with Baker Hughes. We are very proud to be the first and only full stream supplier of integrated oil products, services, and digital solutions. Every project has unique requirements, and BHGE brings a depth and breadth with access to equipment, service, technical expertise, and solutions across the value stream. It is important to mention that our footprint has increased to more than 130 countries. At the same time, our portfolio in Colombia has grown stronger. We want to show our customers how digital capabilities can increase efficiency. Most recently, we introduced the LM9000 aero derivative gas turbine, an innovative design based on proven technology from GE's Aviation business. It offers 50% longer mean time between maintenance: 40% lower NOx emissions, 20% more power, and 25% fewer trains. We combine our history of invention with the mindset of a start-up to overcome today's toughest energy challenges, so we have high expectations currently. In 2018, we are entering our second year as BHGE; we want to prove to our customers that our portfolio can generate benefits for them through technology synergies.
Leandro Forero Pachón
Andean Geomarket Director, Baker Hughes
Ricardo Sarmiento Botero
CEO, Estrella International Energy Services
Activity in Colombia was at a minimum for many years; however, things are changing and the oil price is starting to get more stable. The vast majority of E&P companies that had exploration commitments are now undertaking them due to the flexibility given by the National Agency of hydrocarbons (ANH). Compared to 2017, business is flourishing and we are pleased with the situation. Although things look better, our worry is that few companies are conducting activities. Our biggest fear today is the toll social unrest has on the efficiency of oil and gas projects and hence on the Colombian economy. We need to start putting something together to ensure that the transition between large contractor companies and local contractors is smooth. The geology here is relatively complex, and there are aspects such as logistics that impact the direct cost of drilling, However, things have changed for the better because of modern equipment. Our main target is Colombia, and we will maintain our focus on Argentina because it followed the same trajectory as Colombia between 2003 and 2013, with a great deal of stability and activities. Our goal is to undertake more projects; we have to increase our profits and want our entire fleet to be occupied. We are exploring our CSR strategy, as we want a sustainable impact on the community that pays dividends for us.
Juan David Orozco
Country Manager, Halliburton
Halliburton has been in the country for 75 years, and we have 14 product service lines that primarily focus on upstream and certain midstream operations. For 2017, highlights included being able to serve offshore operations. Our goal is to commence these operations in the second half of 2019. This is an area that will thrive if the country continues to support such activities for the next 10-15 years. The biggest challenge we face is building relationships with the communities, but this is also an enormous opportunity. Today, communities want a broader participation in oil and gas activity that creates an opportunity to increase employment, contract local goods and services, and support local entrepreneur projects. We have many different ways of collaborating with the communities where we live and operate. Our Good Neighbor initiative outlines plans for our efforts with local communities, government, and suppliers. Also, we have a chapter for young professionals called IMPACT, with the primary objective of furthering employee development and enhancing leadership competencies. To achieve our environmental goals, we follow mitigation plans to avoid potential environmental impact and follow emission regulations. Moving forward, we will continue to see an appetite for investing in the country. We will likely see a spike in activity in 4Q2018 with the recovery plan from operators; the expectation is to cover that activity with safety, quality, and new technologies.