1967 Special studies

OTEPI was created on November 22, 1967, initiating activities in the area of mechanical engineering and consultancy services, preparing special studies particularly in the planning and regional development areas.

1975 Multidisciplinary engineering

OTEPI ventured into the execution of multidisciplinary engineering design projects, especially in the infrastructure and industrial sectors, and decided to move into the oil sector.

1985 Five years of achievements

In the five-year period between 1985 and 1990, OTEPI became an important engineering services company, placing itself among the country’s front-runners in the oil sector, and in first place in the iron and steel and basic industry sectors.

1995 General contractor

Investments related to the oil opening in Venezuela began in 1993. OTEPI and Maxus, a US company, obtained a well-operation contract.

The oil opening demanded important challenges of the national companies since the market went from having just one client to a diversified clientele from different parts of the world and different work procedures. OTEPI made changes to its operating structure and infrastructure that allowed it to approach new clients and carry out several EPC and EPCM projects, at times in alliance with foreign companies.

Valuable transfer of know-how was achieved through these alliances, along with important challenges in the areas of communications and cultural adjustments.

At this point OTEPI started its evolution from an engineering company to a general contractor, assuming the responsibility of executing EPC/EPCM projects which allowed it to construct organizational capacities, procedures and professional training. Different projects were executed leveraged through alliances with local and foreign companies, among the most outstanding are: the Lama EPC plant executed with Pritchard, El Furrial with Black & Veatch, and the EPCM project with SINCOR, among others.

1998 Diversification / Internationalization

By the end of 1998 the Operation and Maintenance Division had been created. That same year it faced the internationalization process towards the Latin American market. During 1999 and 2000 a new growth strategy is defined in order to complete its conversion into a global services corporation.

Strengthening and growth continued. In the first quarter of 1999, OTEPI acquired a 50% shareholding in construction company GBC Ingenieros Contratistas S.A., thus diversifying into the direct construction market.

2001 Crude and gas operator

In June of this year a group was formed by Total – Repsol – Inelectra and OTEPI, which wins the bid to exploit gas in the Yucal Placer Norte and Yucal Placer Sur deposits. From this moment on the Corporation assumed an active role in the business and in the operation of Venezuelan gas producing fields.

We were also able to contract EPC projects in Venezuela, Panama, Peru and Colombia that strengthened our capacities as a general contractor and advance with the internationalization strategy.

2004 International expansion

This year the first project in Spain was executed, serving to identify the conditions for the business framework in this country and help us to be prepared to attend the demands for engineering services for the most important Spanish E&C companies.

Today we have the experience, financial strength, organization, physical infrastructure and the necessary talent to offer our clients integrated solutions that go beyond the traditional business activities, associating with them when it is necessary to evaluate an opportunity, from the start-up through to the last operation of the investment project.

We are present in Venezuela, USA, Spain, Mexico and Colombia. Besides these markets we also attend projects in the Middle East and North Africa and soon we will begin activities in Canada.

2006 OTEPI 2010 future plan

The periods previously mentioned show a long road of good choices, streamlining, growth and especially of vision and flexibility to make changes that have allowed OTEPI to adapt to the surrounding conditions, resulting in a successful execution, recognition in the markets served, structured national and international management, signed alliances with companies from the USA, Spain and Canada, the growth of its services portfolio and world-wide coverage that reaches countries in the Middle East, Spain, Algiers, USA and Canada.

In order to always be “the engineering and projects company of reference in all the markets we serve” and with the intention of defining our strategic growth and development lines, the OTEPI 2010 Future plan has been designed as a guideline for continuous action that specifies the elements necessary for guaranteeing business success. It is based on three key development elements that will ensure high levels of competitivity and will lead us towards a promising future. These three development elements are: