Mexico's Oil Reform a Boon for Hard-hit Oil Service, Seismic Firms
$800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil firm Pemex. The government of President Enrique Pena Nieto hopes the deepwater sale will attract tens of billions of dollars of investment to turnaround a slump in the country's oil output. Seven previous auctions drew investment pledges of $61 billion. International oil firms will this week bid for blocks on the Mexican side of the Gulf,
Pemex Sees Oil Output Boost from Looming Joint Ventures
on developing two Gulf of Mexico deep water areas in the Perdido Fold Belt - Trion and Exploratus - which straddle the country's maritime border with the United States. Pemex has previously said the joint ventures will require investment of about $32 billion. In 2013, President Enrique Pena Nieto's newly-appointed Pemex chief executive Emilio Lozoya pledged to boost output to 3 million bpd by 2018 following the approval of a sweeping energy reform that ended the company's decades-long monopoly and paved the way for new private producers to begin operating. But the Pemex forecast
First Phase of Historic Mexico Oil Auction Misses Expectations
the same consortium made up of Mexico's Sierra Oil & Gas, U.S. firm Talos Energy and Britain's Premier Oil. The other 12 blocks received no bids, or none that cleared the bar set by Mexico's finance ministry. All told, it was an inauspicious start to the rollout of President Enrique Pena Nieto's signature economic reform. In the second block up for grabs, the consortium offered 55.99 percent of pre-tax profits to the state, plus a 10 percent additional work program commitment. In the seventh block, the same consortium won by offering 68.99 percent of pre-tax profits
Mexico Puts Gulf Deepwater Oil Treaty with US into Effect
oil reserves, but an opening of the oil and gas industries to private investment is expected to spur more projects in the Mexican side of the Gulf. Mexico's Congress is voting this week and next on a series of bills needed to implement the energy reform, which is the centerpiece of President Enrique Pena Nieto's economic reform agenda. (Reporting by Michael O'Boyle; Editing by Chizu Nomiyama
Keppel Wins Add-on Mexican Jack-up Order
will be built to Keppel's proprietary KFELS B Class design. It will be added to the fleet of another four similar rigs that Keppel FELS is building for Grupo R. With this new contract, Keppel FELS currently has on order nine KFELS B Class jackup rigs from Mexican customers. Mexico's President, Enrique Pena Nieto, announced in March this year that the country's proven reserves of oil and gas at the start of 2013 has risen to 13.87 billion barrels of crude-oil equivalent. PEMEX, the Mexican national oil company has stated their aim to increase production with plans to add between eight and 12 offshore
February 2024
