Mexico


It works with its Chinese partners and its customers in Mexico to draft and implement EPC plans for a wide range of energy sector projects, with flexible fixed and/or shared investment revenues model that best suits the scenario.

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1) An EPC total solution of construction of oil rigs in China for Pemex

Caricom, as a dynamic and fast growing marine financing and funding gateway organization backed by Chinese banks, Sinosure, Chinese sovereign funds, COSL, CNOOC and Chinese investors, is in the process of setting up a project team with China State Shipbuilding Corporation (CSSC) http://www.cssc.net.cn/en/, China Shipbuilding Trading Co., Ltd. (CSTC) http://www.cstc.com.cn/, China Oilfield Services Limited (COSL) www.cosl.com.cn/ and China National Offshore Oil Corporation (CNOOC) http://www.cnooc.com.cn/ as the oil rig builders, project manager and operators to provide a complete suite of turnkey engineering solutions of the construction of oil rigs, say using EPC business model for Pemex in the offshore oil and gas industry in Mexico.

Since the above jointly project team is based in the shipyard of CSSC, it integrates the talented staffs, high-end engineering expertise and multi-engineering disciplines of among CSSC, CSTC, COSL, CNOOC and Caricom to deliver quick, reliable and innovative solutions given the fact that the jointly project engineers are highly skilled in various engineering disciplines with extensive experience in the marine and offshore building and construction industry.

The objective will be to interact with Pemex and our strategic working partner CSSC and CSTC in China to provide services at all stages of the oil rig project lifecycle, from capital, funding, financing to basic design, detail design, project management, manufacturing, building, construction, completion, delivery, commission and then start-up on-site operation of such oil rigs.

With such experienced management and professional personnel, it certainly provides the following turnkey engineering solutions in solving the complex problems for Pemex in the offshore oil and gas industry in Mexico:

Engineering Building and Construction
1  License designs 1  Project planning
2  Co-develop designs 2  Quality management system
3  Co-own designs 3  CPA / Work breakdown structure
4  Basic design analysis 4  Construction methodology
5  Detail design for new build / refurbishment 5  QA/QC procedures
6  Optimizing existing rig designs
Procurement Commissioning
1  Technical specification for ordering of materials/ equipment 1  Procedures for equipment testing & commissioning
2  Technical evaluation of vendor proposals 2  Procedures for drilling system commissioning
3  Estimation of bill of materials 3  Jacking trial procedure

In summary, Caricom project team works with  CSSC, CSTC, CNOOC, Chinese policy banks, Chinese sovereign funds, Chinese PE and Chinese investors to focus on providing a wide range of shipping services, including design, shipbuilding, repair and conversion, for Pemex in the offshore and marine industry in Mexico:

  • Design and construction of jackup rigs, semisubmersible rigs, floating production systems and other advanced vessels such as drillships
  • Repair, upgrading and conversion of offshore rigs
  • Design and development of critical rig equipment
  • Fabrication of offshore structures and rig components

2) The EPC business model of Caricom

a) For basic design, detail design, project management, manufacturing, building, construction, completion, delivery and commission of oil rigs:
CSSC http://www.cssc.net.cn/en/ under the jointly platform of CSTC http://www.cstc.com.cn/ and Caricom http://caricomoil.com/main/

b) Professional licensed personnel:
Mr. Lee Kwok Wan of Caricom is a licensed person with HKSFC Registered personnel (CE No. : AZL662) to carry out type 9 (asset management) regulated activities under the Securities and Future Ordinance (Chapter 571 of the Laws of Hong Kong).

c) Project management:
Caricom and the project JV consisting Caricom, COSC, CNOOC and the partners of Pemex.

d) Funders/financier:
China Development Bank (CDB) http://www.cdb.com.cn/english/index.asp, Import Export Bank of PRC China http://english.eximbank.gov.cn/, China Investment Corporation (CIC) http://www.china-inv.cn/ and China Export Credit Insurance Corporation http://www.sinosure.com.cn/sinosure/english/English.html via Caricom

e) Professional and expert operators to operate the oils rig assets which encompass all areas of oil and gas drilling, completion and production:
China Oilfield Services Limited (COSL) www.cosl.com.cn/,  China National Offshore Oil Corporation (CNOOC), http://www.cnooc.com.cn/ and Caricom http://caricomoil.com/main/ together with Caricom’s Mexican partners.

CSSC is the China’s biggest and largest national shipbuilding group. apart from its abiltiy of building tanker vessels, Aframax, Panamax, Suezmax, Product, and VLCC vessels, it has its own offshore plant manufacturing oil rig bases in China. It hopes to become a world leader and to move the axis of global offshore rig building from Singapore to China.

Shanghai Waigaoqiao Shipbuilding (SWS) http://www.chinasws.com/ is a wholly owned subsidiary of CSSC. Shanghai Waigaoqiao Shipbuilding and Offshore (SWS Offshore) is a wholly owned subsidiary of SWS.

SWS Offshore http://www.chinasws.com/component_product_center/index.php?typeid=2 has the experience in engineering and constructing the jack up rigs, barge rigs, semi-submersible drilling units, platform supply vessels (PSVs), OSVs, FPSOs, offshore modules, living quarters, as well as the special steel structures and LNGs.

The objective is to secure a fleet of oil rigs construction contracts from Pemex in the offshore oil and gas industry in Mexico to be funded, designed, built, constructed and completed in China, and then to oversee the building and construction of such oil rigs in China, which should include jack-up rigs, tender rigs, semi-tender rigs, semi-submersible rigs, drillships, PSV and platforms.

3) Curent oil rig project in progress

Caricom has been working with Chinese helping its one of customers - the Government of Mexico with bankable energy solutions. Our capital sources now have some bankable and financed projects in Mexico to be funded and financed by Chinese money.

In the total bankable and financed projects for Pemex, the first phase is for financing, funding, basic design, detail design, project management, manufacturing, building, construction, completion, delivery of the oil drilling rigs & equipment by CSSC and CSTC, and then with its commission and operation of such oil rigs participated by the syndicated group of COSL/CNOOC/Caricom’s Mexican partners of Pemex as its operators.

Within a total credit line of USD4 billion to be applied for Pemex, the total project cost in the phase one is estimated at $1.5 billion USD, which includes oil rigs, project management, drilling and handling tools, spare parts and commissioning costs.

The above is based on our in-depth and proven ability of planning and strcuturing it as one-stop-of-total solution with the vailid availability of the license of HKSFC Registered personnel Gordon Lee (Lee Kwok Wan) (CE No.: AZL662) for the implementation of large-scale multi-billion US dollar projects by using Chinese money for and under the oil platform arranged by the Government of Mexico.

Of course, Caricom has reached a firm commitment with CSSC and CSTC for the above on 3rd Dec 2013 in Shanghai for the above.

An official invitation letter issued by Chinese on 13th March 2013 has been addressed to CEO of Pemex inviting him and his delegation from Pemex to come to China in June/July 2014 to visit the shipyard facilities of Shanghai Waigaoqiao Shipbuilding (SWS) http://www.chinasws.com/, which is a wholly owned subsidiary of CSSC.

The main agenda for this China’s visit by Pemex would be:

  • The proposed project of oil rigs and the drilling equipment to be built and constructed in China by CSSC and CSTC for Pemex as well how to work with the main service providers and subcontractors of Pemex in Mexico after the oil rigs have been built by CSSC and CSTC.
  • To look into the possibility of making LNG and LPG project co-operation with for Pemex together jointly with CSSC & CSTC in terms of capital investment and long term binding purchase of LNG and LPG from Pemex for China following the recent opening of the oil and gas sector to international investors in Mexico.

The above forthcoming visit by Pemex will be a significant milestone for Caricom in its ambtion to become an expert player in providing Chinese money of billions USD further into Mexico. Caricom will have a full service asset which has great potential and it will have another proven track record.

4) Seeking the opportunity of sourcing volume of LNG and LPG in Mexico or having an investment into Mexico jointly with Pemex for a LNG/LPG port terminal with gas liquefaction plant by Chinese money for the Chinese market

By having the mandate from Chinese, Caricom is in the process of seeking an opportunity overseas to look into the investment into the exploration of LNG market on behalf of Chinese principals. It will be structured as an EPC model, particularly focusing on investing into Mexico.

It plans that its gas project will develop gas and condensate gas resources in the operating oil fields of Pemex or in the oil field granted by the government of Mexico. Then, the gas will be transported by pipeline to a gas liquefaction plant jointly invested by Caricom’s principals, who have binding LNG purchase agreements to supply to the China market.

In summary, it offers integrated solutions for the upstream and downstream oil and gas industry in Mexico in line of their recent opening of the oil and gas sector to international investors where is going to be attracted multi-billion USD investments into Mexico in the next 20 years.

We focus on:

  • Armed with Chinese money, to finance & fund the acquisitions of oil rigs and the drilling equipment to be built and constructed in China by CSSC on the EPC model for Pemex.
  • To get the funding and financing for Pemex for oil/gas pipe lines, ports and oil exploration projects in which Pemex needs financing after the secondary laws for the Energy Reform have been published.
  • Look into the possibility of making LNG and LPG project development for Pemex together jointly with CSSC & CSTC via Caricom, i.e. jointly with Pemex to build a LNG/LPG export port terminal with gas liquefaction plant in Mexico in line with the diversification of CSSC’s portfolio into the LNG and LPG business in view of its existing core activities of building the LNG and LPG vessels. It is in the process by Pemex of looking into working together jointly with the participation by CSSC and CSTC backed by China Development Bank in terms of capital investment and long term binding purchase of LNG and LPG from Pemex for China.
  • To obtain a drilling consignment from Pemex in Mexico under the platform of Daqing Oilfield Company Ltd http://en.wikipedia.org/wiki/Daqing_Field and http://www.cnpc.com.cn/dq/en/qyjj/qygk/ to carry out the drilling in the inland for  oil & gas exploration & production, petroleum engineering & technical services, engineering design & construction and equipment manufacturing for the consignment to be granted by Pemex.

5) GP-LP Structure

By recognising the importance of vast potential oil & gas drilling and exploration activities in Mexico participated by Chinese investments and being the strategic partnership with CSSC, where Caricom has good leverage to compete in the areas of technological prowess, its ability to meet delivery schedules and its ability to provide customized rigs to Mexico, Caricom works on packing the above project into a separate fund with the legal regulated activities under the professional licensed personnel with HKSFC Registered personnel Gordon Lee (Lee Kwok Wan) (CE No. : AZL662) to be managed so that the fund can be authorized by the Securities and Futures Commission of Hong Kong and also various discretionary requests from Pemex.

By achieving the above, Caricom plans to become a leading player in the Mexican for oil sector by providing China money service to Pemex and offering integrated services and tailored solutions given by China to Pemex. It should be capitalized with an initial private placement offering which shall be completed on March 31, 2015 and then it plans to have a subsequent private placement that shall be completed on June 30 , 2015. It will do its IPO with the objective of begining trading publicly on the HKEx from mid of 2017.

“Some of us will do our jobs well and some will not, but we will be judged by only one thing – the results” – Vince Lombard, and “Nothing great was ever achieved without enthusiasm” – Ralph Waldo Emerson. In this case, it is happening to have it IPO in due course!

Althought the above might not work out as per expected totally, mainly due to the fact that Pemex has to close the credit lines for ships and rigs from 2014 until 2016 with Chinese by themselves alone, this line was agreed when Pemex director together with their people were in Beijing in 2013 for the ships, oil rigs and drilling equipment to be built and constructed in China by any of four Chinese shipbuilders. Caricom does its best to convince Pemex to pass on the major orders for Jack-up oil rigs and drilling equipment for 2014, 2015 and 2016 to be built and constructed in China to China State Shipbuilding Corproation CSSC http://www.cssc.net.cn/en/so that CSSC can make it as a total solution for Pemex. It will not only be in compliance with the policy of Chinese governemntal authority and its policy banks (China Development Bank and Import and Export Bank of China) and Sinosure, but also will make it as EPC model agreed by Chinese policy banks and Sinosure with COSL/CNOOC together with Pemex as operators and with Caricom’s participation as the project and liaising manager to ensure the success of this project with between China and Mexico on G-2-G level for the deal with Pemex. In addition, Caricom always works with Pemex together with CSSC+CSTC for the more projects to be given by Pemex. Of course, Caricom will be of help finding the funds for Pemex for its infrastructure.

In summary, It has been not an easy task, but Caricom has been working hard to link itself with Pemex since 21th October 2013 backed by its Chinese working partners and its Mexican networks. Please rest assured that Caricom together with its Chinese partners CSSC+CSTC, Chinese policy banks, COSL will provide Pemex a total solution commencing from 2015.