Engineer Eduardo López, a visionary leader in the energy sector, has dedicated over three decades to revolutionizing the oil and gas industry in Latin America and beyond. As the Chairman of SERTECPET Group, he has leveraged his extensive experience in both public and private sectors to drive innovation, sustainability, and technological advancements. Under his leadership, SERTECPET has become a prominent player in the global energy market, renowned for its commitment to excellence and disruptive innovation.
López’s career is marked by significant achievements, including the development of Hydraulic Artificial Lift Systems and the establishment of strategic alliances with academic institutions and international companies. His forward-thinking approach has positioned SERTECPET at the forefront of the renewable energy sector, with a focus on integrating responsible and sustainable practices.
In this exclusive interview with Latin&Gulf, López shares insights into the dynamic landscape of the oil and gas sector, the role of technology in optimizing production, and SERTECPET’s strategic initiatives in Latin America and the Gulf region. He also discusses the company’s commitment to environmental stewardship and its efforts to foster local development through cultural integration and sustainable business practices. Join us as we delve into the visionary strategies of Eduardo López and his unwavering dedication to shaping the future of energy.
As President of SERTECPET® Energy Holdings, how do you perceive the current business landscape in Latin America, particularly in the oil and gas sector?
Latin America presents fascinating challenges and opportunities for investors and entrepreneurs, especially in the oil and gas sector. Despite fluctuations in oil prices and an increasingly complex regulatory environment, the region continues to be resource-rich and offers a growing market for hydrocarbons, particularly in the Guyanas, Brazil, Argentina, and many other countries in the realm of renewable energies. In my opinion, the key lies in adapting to changes and capitalizing on emerging opportunities.
This is why at SERTECPET®, our main focus is on hydrocarbons with highly specialized services in well testing and production, downhole tool design and construction, and oil facilities both onshore and offshore. We also leverage opportunities in the mining sector and clean energies, drawing on our experience, technology, know-how, reputation, capabilities, and available infrastructure. We adhere to best business practices and uphold the highest international standards in quality, environment, social responsibility, and ethical practices. Additionally, we operate with our own management model, which has allowed us to benchmark successfully against global management models. We have achieved top ratings thanks to our focus on excellence, disruptive innovation, business ethics, and technological development, supported by highly qualified and motivated professionals with a clear purpose: the sustainability of the organization.
What specific initiatives or projects is SERTECPET® currently involved in within Latin America?
Currently, SERTECPET® is engaged in several strategic projects in the region, including the operation of a mature field, and we have our own technology in Hydraulic Artificial Lift Systems. We have developed our own patents and software, offer downhole solutions, and focus on adopting advanced technologies to improve the efficiency of oil and gas exploration and production. Additionally, we have alliances with national and international academic institutions and other companies to develop renewable energy projects, thus expanding our service offerings.
We are excited to contribute to the new energy model and the mining sector with new business lines, leveraging our vast experience in EPC projects as the region is rich in natural resources and offers a wide range of investment opportunities, crucial in this sector. It is essential to highlight our commitment to respecting local cultures and traditions, working closely to ensure our initiatives are not only beneficial but also promote long-term sustainable production chains.
Given the global shift towards renewable energy, how is SERTECPET® positioning itself to capitalize on clean energy opportunities in Latin America?
SERTECPET® is strategically positioned to seize clean energy project opportunities through alliances with high-tech industries and companies with strong technological solvency, as well as through research and development of renewable technologies in collaboration with academic institutions. We are actively exploring projects in solar, wind, and hydro energy, seeking to establish strategic alliances with specialized technology firms and investors to participate in and contribute to the market, promoting a more sustainable energy model.
Our approach focuses on integrating responsible and sustainable practices, ensuring operations not only meet but exceed international standards. Additionally, we implement a management model oriented towards excellence and innovation, keeping us at the forefront of the energy sector. The abundant wealth of Latin America extends beyond its natural resources to its people, high-quality goods and services, and agricultural export products.
This region offers a unique opportunity to build long-term trust relationships. It is crucial to invest in Latin America not only to bring in capital and technology but also to share experience and collaborate on better commercial exchanges between the Middle East and Latin American countries. We are ready to significantly contribute to investors looking to participate in our project portfolio, supported by a solid and robust Quality, Safety, and Environmental Management System, best practices, and a firm conviction that our company will be a strategic partner in the region.
What role does technology play in SERTECPET®’s operations, especially in optimizing oil and gas production and exploration?
Innovation in new technologies is fundamental to our operations. Therefore, we are developing advanced data analysis, automation, and digitization technologies to optimize oil and gas production and exploration. Additionally, we are integrating artificial intelligence into our operations. These tools enable us to maximize efficiency, reduce costs, and minimize environmental impact.
We adopt a policy of continuous improvement to ensure our processes meet the highest international quality and safety standards. Our management model is oriented towards innovation, technological-scientific development, continuous improvement, and disruption, all guaranteed by highly qualified and motivated professionals to achieve superior results through the use and development of new technologies. This is evident in our core business in well testing and production, downhole tool design and construction, and oil facilities, where we constantly improve through permanent technological innovations.
Moving to the UAE and Gulf countries, what potential exists for collaboration between SERTECPET® and local energy companies?
There is significant potential for collaboration with Gulf countries, which are making considerable investments in their energy sectors and seeking technological and operational partners capable of providing expertise and innovative solutions. At SERTECPET®, we stand out for our knowledge in Hydraulic Artificial Lift Systems, supported by our patents that have optimized well production and testing in various regions. We also offer specific technological solutions for wells and oil fields, as well as EPCM process services that add value to our clients.
It is crucial to mention our strong strategic alliances with recognized companies in the region, where we deeply respect local cultures and actively work to create synergies that benefit all parties involved. Our commitment focuses on fostering local development and component integration, adopting sustainable practices to be seen as an integral part of each community where we operate. The experience gained over more than 33 years and SERTECPET®’s commitment represent significant value for all our potential clients.
How do you promote the implementation of new technologies for cleaner extraction, refining, and distribution processes?
The best way is to work closely with the client, understanding their technological needs and challenges, and keeping an eye on mega trends, which are fundamental in our operations. We use advanced data analysis, automation, and digitization technologies to optimize oil and gas production and exploration, and we are committed to implementing artificial intelligence in our operations. These tools allow us to maximize efficiency, reduce costs, and minimize environmental impact. We adopt a policy of continuous improvement, ensuring that our processes meet the highest international quality and safety standards. Our management model, focused on innovation, technological-scientific development, continuous improvement, and disruption, guarantees that our team comprises highly qualified and motivated professionals to achieve superior results using and developing new technologies. Moreover, in our core business of well testing and production, downhole tool design and construction, and oil facilities, we are constantly improving through technological innovations.
Our downhole and surface equipment are designed and manufactured to the highest safety, quality, and environmental standards. Since 2017, we have been working with one of our Mobile Testing Units (MTU), significantly reducing CO2 emissions by transitioning from combustion engines to electric engines. This technology has been recognized with the Green Point seal awarded by the Ecuadorian Ministry of Environment.
Furthermore, during the UN Climate Conference COP26, we signed a Memorandum of Understanding with the University of Edinburgh to collaborate on developing environmentally friendly technologies in the oil and gas industry. This alliance allows us to collaborate on new challenges, and we have also committed to reducing emissions in the UN’s 2050 agenda.
How does SERTECPET® navigate cultural differences and regulatory frameworks when expanding in the Gulf region?
Respect, study, adaptation, and involvement in this rich culture require a more inclusive and cooperative approach. At SERTECPET®, we work closely with local partners to understand and comply with local regulations. We value intercultural training to ensure our team respects and integrates properly into the diverse local cultures. We foster an inclusive and diverse environment, recognizing that cultural diversity strengthens our operations and enables us to adapt better to global markets.
Our management model stands out for its focus on excellence and cultural integration, facilitating our operations in different regions of the world. This approach applies both to our core business in well testing and production, downhole tool design and construction, and oil facilities, as well as to our new initiatives in renewable energy and mining.
Moreover, I consider that the influence of Arab culture in Spain has left a profound mark on cultures and, of course, on Latin American ones. This natural connection allows us to understand each other and feel very comfortable doing business together. Personally, I perceive similar nuances that reinforce a strong cultural bond, creating a conducive environment for taking on challenges and seizing the opportunities that the Arab and Latin American markets offer us. The Arab influence in Latin America is indirect and is transmitted mainly through the Spanish heritage. This legacy manifests in several key areas: language, gastronomy, architecture, customs and traditions, art and craftsmanship, and science and technology. In summary, the Arab cultural footprint in Latin America, although indirect, is significant and is perceived in multiple aspects of the life and cultural heritage of the region.
What renewable energy projects or innovations is SERTECPET® exploring in the UAE and Gulf countries?
We are establishing ourselves in the region and are in the early stages with the goal of positioning ourselves in the hydrocarbons sector due to its importance and the need for advanced technology to contribute to emission reductions. Subsequently, we plan to participate in medium-scale strategic projects in collaboration with local research centers, companies, investors, and academia, aiming to develop innovative energy solutions tailored to the region’s specific climatic conditions.
We will focus especially on projects designed to meet the highest sustainability standards, aimed at reducing the carbon footprint and promoting the use of clean energies in the region. Our commitment to excellence and innovation is reflected in each of our projects, backed by our solid management model.
Considering the impact of COVID-19, how has SERTECPET® adjusted its business strategies in both Latin America and the Gulf?
The pandemic has prompted us to reevaluate and adjust our strategies. We have accelerated the digitalization of our operations, implementing remote work technologies and digital management tools. Additionally, we have diversified our supply chain to mitigate risks and ensure operational continuity.
We prioritize the health and safety of our employees, implementing strict measures to protect their well-being. At the same time, we have strengthened our commitment to local communities, supporting initiatives to address the economic and social challenges arising from the pandemic.
Our management model has proven to be agile and effective, allowing us to adapt quickly and maintain high standards of quality and responsibility during this challenging period. This capability is reflected both in our core business in the oil sector and in our new initiatives in renewable energies and mining.
What advice would you give to other energy companies seeking growth opportunities in these regions?
My recommendation for other companies in the energy sector is to place a strong emphasis on innovation and adaptability. It is crucial to understand and respect the cultural and regulatory particularities of each region. Additionally, investing in technology and sustainability not only enhances operational efficiency but also positions companies as responsible leaders in the energy sector.
Prioritizing transparency, a commitment to quality and sustainability, and the value of human capital are key elements for achieving long-term success in any market. Implementing a management model that is evaluated according to international standards of excellence and business ethics is fundamental for achieving sustained and responsible growth. Moreover, it is advisable to diversify the core business to include emerging sectors such as renewable energy and mining, which are essential for the new global energy focus.
How do you balance the interests of various stakeholders, including investors, governments, environmental groups, and local communities?
At SERTECPET®, we have a clear procedure for weighting and influencing our stakeholders, which allows us to create a map of stakeholders with an impact on strategy and budget; this determines an action plan for each of our stakeholders. Undoubtedly, this allows us to balance actions, strategies, and channels to inform, persuade, raise awareness, and support them. For the 2023-2025 period, the weighting of this interest group focuses primarily on internal and external clients, academia, and the community surrounding the operation. The rest of the stakeholders, in addition to being mapped, have a specific development of activities carried out under a clear schedule and specific actions.
Our internal client has been identified as our brand enhancer. Through Knowledge Management, we train them to foster a strong culture based on our values, thereby adding value in every country where we provide services.
Looking to the future, what exciting developments or expansions can we expect from SERTECPET® in Latin America, the UAE, and Gulf countries?
We are firmly convinced that the future is now. Therefore, we are challenged to significantly expand our presence in these markets by implementing innovative projects in both the hydrocarbon sector and renewable energy and mining. Additionally, we will continue to advance in the development of our technological capabilities to offer more efficient and sustainable solutions to our clients worldwide.
We are committed to being a benchmark in the new energy model, promoting sustainable development, and positively contributing to the well-being of communities and environmental care. Our management and administration model, recognized worldwide for its focus on excellence, innovation, business ethics, and technological development, will continue to be the fundamental pillar for our future expansions and developments.
I am deeply convinced of the crucial need for cities and countries to actively promote local production in all their product and service sectors. I firmly believe that this strategy not only strengthens the local economy and generates employment but also fosters autonomy and resilience in the face of global economic challenges. We will continue to be a relevant industry and a good corporate citizen in all the countries where we operate because at SERTECPET®, we are not just an organization, we are an industry dedicated to creating a sustainable society and building a better world for future generations… we are energy for the world.
