PEMEX, the government-owned energy giant recognized as the ninth largest oil and gas company in the world and the third largest producer of crude oil in the world (Source: Petroleum Intelligence Weekly 2003), has been advised by the administration that Mexico needs to be fully self-sufficient in the supply of oil and gas by the end of the decade, prioritizing enhanced well production and drilling projects. PEMEX strives to bring new technologies to enhance well production in Mexico, and CTT is considered a premium tool supplier with products that can assist in reaching Mexico's stated goal of self sufficiency to the region, while aligning itself with Rollins subsidiary Thru Tubing Solutions, a premier service company.
Meanwhile, Halliburton and Schlumberger have increased their asset base in Mexico, supplying coil tubing units to meet the increased demand in activity while making a long-term commitment to the region.
"The partnership with the Rollins group is an ideal opportunity to place a concerted effort upon expanding the proprietary products of CTT into international markets with a corporation that has worldwide exposure and prestige," stated Jerry Swinford, President of Coil Tubing Technology.
Coil Tubing Technology, Inc. (CTT) has specialized in the design of proprietary tools for the coil tubing industry since 1990, concentrating on four categories of coil tubing application: thru tubing fishing, thru tubing work over, pipeline clean out, and coil tubing drilling. CTT was founded in 1998 by Jerry Swinford, an oilfield tool designer with more than 15 patents granted or pending and more that 25 years experience in the creation of oilfield tools.
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