Oderco Petroleum today announced the acquisition of China Petroleum Ideal Equipment Limited Company a privately, Innovator company in manufacturing of Onshore Rigs, Offshore Rigs, Moving Rigs, Sub- Structures, Top Drives. The terms of the transaction were not disclosed.
“We are excited to add the IDEAL brand and team to ODERCO PETROLEUM strong drilling business. IDEAL has acquired a large stock of products used for their own manufacturing process for rigs on brands as Siemens, General Electric, ABB, SACE, NOV, and others. and we are excited to see what they can accomplish with access to IDEAL considerable engineering, manufacturing and distribution capabilities,” said Luis Dona , ODERCO PETROELUM Chairman & CEO. “Their Rigs are one of most demamnded product on oil and gas industry emphasizing Oderco Petroleum relentless commitment to innovation, performance and quality. Our common culture and shared passion for the oil and gas industry create an exciting platform for continued innovation and accelerated growth.”
IDEAL will continue to operate as a distinct brand and the operations.
This alliance represents an opportunity for operator drilling companies in Mexico, Venezuela, Ecuador, Trinidad and Tobago, etc. to manufacture drilling equipments and tehcnology using financial strategies which allow them quench the risky conditions presented now a days in the international market specially USA.
International Equipment Market Access
¤ China is an industrial country where there is a very fast capacity of response, faster than in any other developed country, besides, it offers quality and reasonable prices.
¤ There are several manufacturers for rigs and hard core equipments for oil field operations.
¤ These manufacturers have contracts with first level companies in the world producing high quality equipments and improving day by day.
¤ There are excellent relationships between governments of China and Latin American, Central American and Caribbean Countries which highly reduce the country risk.
¤ PDVSA recently certified 15 equipments from the Acquisition ODERCO – IDEAL.
¤ the Acquisition ODERCO-IDEAL represents for Latin America equipment, pieces and parts produced by the Chinese companies IDEAL and ZPEC with American and Norwegian Technology.
¤ These companies produce, in addition perforation drills in different sizes, cementation equipment, pipes, among others.
¤ At this moment, there is a global demand of equipment for perforation, maintenance and oil well production, due to the continuous world-wide demand of energy and does not exist availabilities in inventory.
¤ All the factories world-wide have their production jeopardize Canada and USA, among others. Emergent countries, like China, have managed to increase their capacity of production, leaning in state of the art technology such as National Oilwell Varco.
¤ PDVSA does not escape from this situation and requires an important amount of drills to fulfill their program of perforation.
¤ Particularly the considerations country risk from China are low and there is a bank of exports ready to finance equipment to the oil sector.
Project and Engagement from ODERCO-IDEAL Acquisition
The Evolution of the project: S
¤ To Develop in Venezuela the necessary in order to carry out the assembly of technology developed in China, drills that the national oil industry.
¤ To develop and consolidate the research, development and engineering infrastructure required to migrate from assembling of parts produced abroad towards a generation of components produced by Venezuelan companies
¤ Assembly, installation and equipment tune up in the location.
¤ Technical support.
¤ Training of Personnel.
¤ Two (2) years guarantee post sale.
¤ Supply of spare parts, parts and pieces by two (2) years.
¤ Establishing and Managing of a School of Perforation on behave of ODERCO.
¤ Support of the School of Operation of Drills and oilwells.
Oderco Petroleum and Ideal Authorities
Oderco Petroleum and IDEAL Authorities
IDEAL Representative and Oderco Chairman
Beijing Olympic Stadium / Bird Nest
Temple of Heaven