Live, Work & Play In Latin America

“Latin America is an emerging market for foreign investment.  We are certainly seizing the moment! Our vision is to provide oil & gas engineers across latin america with best practices and technical solutions from around the world.”

-Kelly J. Crosbie, Founder & CEO, Praxis Group of Companies, and Caxton Group

The OGM: Describe the business landscape in Latin America?

Kelly: There is huge potential for business in LATAM (Latin America).  Countries in Latin America are seeking foreign investors, there is a hunger. They don’t always have the technologies and man-power to keep up with global demand as more international companies continue to turn and invest in Latin America. Due to foreign investors and foreign workers, the LATAM business landscape is extremely diverse – this draws on the strengths of other cultures from around the world.

The OGM: What are some of the largest opportunities right now in Latin America?

Kelly: Investing in the Oil and Gas Industry in Latin America is a great idea, as many Latin American countries are seeing an increase in exploration and production. In BP`s 2012 Statistical Review of World Energy, it quoted Latin America and the Caribbean as having 20% of the world`s proven unconventional and conventional oil reserves.

The OGM: What were some of the benefits you experienced from entering Latin America?

Kelly: LATAM is one of the most internationalized economies that is heavily dependent on international investments. We noticed a huge benefit of actually setting up an office here and immersing ourselves in our industry`s most up-and-coming market. By ensuring that we are easily accessible to the major players in the oil and gas industry here, we ensure that we can speak their language, both linguistically and metaphorically. We are able to connect with our customers on a deeper level and therefore ensure we are providing them with the best possible solutions to their most challenging problems.

The OGM: Describe the business landscape in Latin America?

Kelly: There is huge potential for business in LATAM (Latin America).  Countries in Latin America are seeking foreign investors, there is a hunger. They don’t always have the technologies and man-power to keep up with global demand as more international companies continue to turn and invest in Latin America. Due to foreign investors and foreign workers, the LATAM business landscape is extremely diverse – this draws on the strengths of other cultures from around the world.

The OGM: What are the top five reasons why someone should consider Latin America as a place for business?

Kelly: Beautiful Weather – LATAM covers a very large area geographically and therefore there is an array of weather for every taste. Our office that is set up in Panama, offers a stable weather environment. The Climate here in Panama eliminates the stress that changing seasons can sometimes cause. This means the extra time of putting on snow boots, shoveling the driveway and wiping off your car can be used more effectively towards the business in activities like putting together a new sales strategy or creating solutions for operational issues – all activities to keep us on the edge of our business and advancing beyond our competition.

Work/Life Balance – Relaxing on off days and hours here is accepted and expected by most living in LATAM. This creates the greatest atmosphere that is conducive to living a balanced life. It is easy for Canadians to have a great work/life balance and by being well balanced means we can perform at our peak levels each day in our jobs.

Meeting like-minded Individuals – LATAM attracts people who seek adventure, who want more than a 9-5 type life. Often times they have a unique outlook on life and are always looking to inspire others and be inspired. You also find other entrepreneurs who are going through the same business lifestyle change as you are and want to support one another. These are people who are watching trends globally and are the types you want to be surrounded by.

Stepping Outside Your Comfort Zone – There is a saying that has been repeated by many inspirational leaders: in order to grow you must step outside your comfort zone. The same thing can be applied to your business. You don`t ever want it to become stagnate, you want to see it advance to the next level and keep pushing on. Being in a new environment down to the different language will put you out of your comfort zone. What is fascinating is that every country in this region is different, giving you a plethora of opportunity to keep pushing your boundaries.

Beautiful Environment – Truly inspirational. Once you put all of these things together it all adds up to LATAM being an incredibly inspirational and beautiful place.

The OGM: Tell us about some of the latest exciting oil plays in the region

Kelly: We are seeing a dramatic increase of heavy oil in the Latin American region. Many operators are seeking solutions for recovering this heavier crude. This creates a tremendous opportunity for Canadian businesses to share their knowledge in dealing with heavy oil, and even greater opportunities for technology companies to provide their proven solutions to operators here in LATAM. Reficar, a refinery in Colombia and an extension of Ecopetrol, is scheduled to finish upgrades to its current facilities to accommodate heavy oil.

The OGM: What advice would you give to our readers who want to do business in Latin America?

Kelly: As with any great investments, make sure you invest your time in doing research. Reliable secondary information can be scarce for LATAM, so I would strongly recommend talking to companies who have already invested. Also, take a trip and check it out for yourself, make sure you like the culture before you invest, and while on that adventure learn the language. There have been a number of North American companies who have not experienced a positive investment outcome, simply because they did not learn enough about the culture and the language. Further, look to get to know other international business professionals here, who can help support you through the process.