Click for SpanishAlejandro Betancourt has a growth plan for Pacific Exploration & Production Corp. The company formerly known as Pacific Rubiales is the largest independent oil producer of Latin America.
Alejandro Betancourt, left, and Pedro Trebbau in Caracas. Photographer: Vladimir Marcano/Bloomberg
Alejandro Betancourt, controls almost 20 percent of Pacific’s stock, and says growth for the Colombia-based company hinges on its ability to tap new resources and markets in Mexico and Venezuela. In the meantime, it needs to sell non-core assets.
Betancourt surprised analysts when he resisted a takeover by Alfa SAB and Harbour Energy Ltd. in June, leading them to abandon their bid. Now, as he moves to expand his influence with Pacific, Alejandro Betancourt could bring a boost for Pacific, and establish himself as a leading voice on energy in the region.
While Pacific declined to comment on Betancourt’s remarks, Chief Executive Officer Ronald Pantin said on Aug. 13 that his relationship with his biggest investors “is very good.” A day later, the company was renamed Pacific Exploration & Production Corp., which the company’s statement said reflected “a broader focus in Latin America.”
Source : Bloomberg's article on Alejandro Betancourt and Pacific Rubiales
The president of Derwick Associates, Alejandro Betancourt, visited Spain to analyze the possibilities of investment into Spanish electricity sector. During his visit, he held a meeting with the president of UNESA, the major electrical company in Spain, Eduardo Montes.
Derwick is present in Spain since 2010 and his international breakthrough comes after five years of work in Venezuela.During this time, the company has undertaken to strengthen the country's energy sector with the building of eleven power plants, which have reduced dependence on hydropower.
The Spanish newspaper ABC published an interview with Alejandro Betancourt at the start of the year, in which he revealed some of the key factors of Derwick’s activity, in particular the launch in 2014 of the Technological Turbine Centre (CTT). The CTT is Derwick’s latest project and will allow it to provide technical assistance with thermoelectric plants from Venezuela and the region at large, lowering costs for customers as they will no longer need to send plants overseas.
In addition, this will allow for the latest technology and innovations to be implemented both locally and regionally.
The construction of the “electrical ring” in Caracas has allowed the reduction of the impact of the last blackout in December. Residents of Caracas enjoyed electrical power use just thirty minutes later, thanks to the ring’s thermoelectric plants.
The Caracas ring consists of a group of thermoelectric plants, five of which have been built by Derwick, which allow quick power restoration after a blackout. Together their total power potential can reach 576 megawatts.
