ECUADOR - Energy & Mining
President & CEO, Sertecpet
Eduardo López Robayo graduated as a Commercial Engineer from the Escuela Politécnica Javeriana del Ecuador, before going on to achieve a Higher Diploma from the Faculty of Engineering in Geology, Mines, Petroleum and Environment at the Central University of Ecuador. He has been a Member of the AIPN-Membership Certificate: Association of International Petroleum Negotiators since June 2007. He was also the Founder of World Tex in 1989, South American Know How in 1990, and the Science and Technology Foundation in 2006. López served as Minister of Energy and Mines during 2004-2005. After having founded Sertecpet in 1990, he became President of the Sertecpet Foundation for the Development of Science and Technology.
During the 1990s Ecuador lacked a clear industrial policy associated with appropriate stimuli, generating a dependent economy centered mainly on the import of goods and services both for consumption as well as for industrial inputs within the oil sector. Additionally, relations between the public and private sector were extremely weak, and the lack of public-private cooperation gave way to an economy that favored commercial over industrial initiatives granting greater benefits to activities devoted to the import of goods and services, rather than to the development of the local industrial base. Taking into account such economic and social contexts, Sertecpet was born as a positive response to the lack of national incentives. Our goal was to address the situation by developing a national industry fueled by the contribution of local skilled professionals in the oil and energy industry. We are a family-run business that has undergone some transformations during the first 10 years, transformations that have included changes to our corporate scope, vision, mission and brand positioning, as well as to the instauration of innovative processes and technologic improvements. The end result of this evolution is today’s Sertecpet, a company at the forefront of innovation and the industrial process in Ecuador whose vision is to excel in the provision of integrated energy solutions. We have earned our leadership through the development of world-class products with great added value and the highest international quality and safety levels. Today, we provide services with our products and technologies under a very recognized and reputable brand; we have our own patents and we are a unique company worldwide.
During our first years of activity, the latest technology to produce our products was wholly imported from the US, Canada, Spain, Japan, and Germany. Over the years, we have been able to develop our own, patented technology and get our systems internationally certified. We operate like any other multinational company that produces technology and systems for the international market. Additionally, we have also developed unique regional projects in the field of basic, conceptual, and detailed engineering for onshore and offshore, and bottom hole tool assembly that are installed in large fields at a regional level. We firmly believe that our know-how and technology allow us to become a strategic partner of the operators.
Because of our expertise and know-how, our technology and products are excellent for operating mature oil fields. These fields are low in production and, therefore, are less profitable and require high levels of technology. Sertecpet, thanks to its integrated solutions, makes these fields more profitable, generating positive contributions for the economies in which we operate. We are usually able to increase production levels by considerable amounts, generating the corresponding impacts in revenue growth and profitability. Currently, we employ over 1,200 engineers. Our qualified staff and the software systems we have developed can carry out detailed reports and studies prior to starting operations. Our clients are provided with a range of alternatives and solutions adapted to their needs, based on increasing production and reducing costs.
Hydroelectric activities are the most relevant section of the industry for us, and in Ecuador they represent the main activities we develop. However, as part of our growth strategy, we will soon enter the renewable energies sector, targeting our participation in solar, wind, and hydroelectric energy projects. We also consider that the geothermal segment has great potential. Such growth will enable us to further consolidate our company as a provider of integrated solutions for the entire energy industry. The further expansion of the company will be based on continuing the provision of engineering and production services with the latest technology and our own developed systems and products with a worldwide projection.
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