Mexico Sets Next Deep-water Oil, Gas Tenders
Mexico's oil regulator, the National Hydrocarbons Commission, set Jan. 31 as the date for the next round of auctions for deep-water oil and gas tenders in the Gulf of Mexico. The so-called 2.4 auctions will offer 30 areas, of which 10 are in the Cordilleras Mexicanas deepwater basin, 10 others in the Salina Basin, nine in the Perdido Fold Belt off the U.S.-Mexico maritime border and one more in the Yucatan platform. The Cordilleras Mexicanas deepwater basin is home to national oil company Pemex's Lakach natural gas project and located east of the Gulf Coast port of Veracruz. C
No Bids for 6th Oil Block in Mexico's Salina Basin
Mexico's oil regulator said there were no bidders for the sixth block tendered in the Gulf of Mexico's Salina Basin a historic deep water oil and gas auction on Monday. (Reporting by Adriana Barrera)
Mexico Eases Consortium Rules for Deep-water Trion JV with Pemex
Mexico's oil regulator on Friday approved a more flexible bidding scheme for a highly anticipated upcoming auction that will pick a partner for national oil company Pemex to jointly develop its deep-water Trion block in the Gulf of Mexico. Consortia wishing to bid on the project can now have a single operator that will be responsible for managing the development, according to the change approved by the regulator, known as the CNH. "The previous version of the joint operating agreement (JOA) required that bidders form a consortium with at least two operators, and that this consortium of two
Mexico Announces Bid Terms for First Deep Water Oil Joint Venture
Mexico's oil regulator on Wednesday announced bid terms for a first-ever joint venture between state-owned oil company Pemex and would-be private partners to develop oil reserves in the Gulf of Mexico's deep waters. The call for bids to partner with cash-strapped Pemex on the Trion light oil field follows the constitutional energy reform enacted in 2013 which promised to reverse a decade-long slump in crude production. (Reporting by David Alire Garcia, Ana Isabel Martinez and Adriana Barrera)
Mexico Aims to Spur Deep Water Oil Projects
Oil companies operating in Mexico's deep waters must use national suppliers for 8 percent of the projects by 2025, the government said on Tuesday, a relatively low rate meant to encourage foreign and private firms to bid on contracts. Mexico's oil regulator has scheduled its first-ever deep water auction in early December for 10 blocks in the Gulf of Mexico, after constitutional amendments in 2013 ended a nearly eight-decade monopoly by state oil firm Pemex. The low rate would allow companies to rely less on Mexican suppliers, which have limited expertise in the country's largely unexplored deep
Oil Majors Pay Mexico Regulator $80 Mln for Deepwater Data
Oil companies have paid Mexico's oil regulator nearly $80 million for seismic data ahead of an auction for deep water fields, suggesting robust interest in the tender despite a lasting slump in the price of crude. Thirteen companies, including Exxon Mobil, BP and BHP Billiton, have paid a total of 1.38 billion pesos ($78 million) to date for licenses to use deep water data, according to a document from national oil regulator CNH seen by Reuters. Company executives say the sum reflects only a fraction of their spending in the past year to acquire geological data ahead of the Dec.
Brazil Offshore Subsalt Holds 176 bln bbls of Oil, Gas -study
such as the United States, Canada, Britain and Norway, Brazil's government and petroleum regulator ANP does not publish estimates of potential Brazilian offshore resources. "Brazil has been remiss in not making such numbers public," said John Forman, a former director of Brazil's oil regulator ANP. He added that the INOC estimate is the only reliable public estimate available and that it uses industry-accepted methods. Taken individually, the average size of undiscovered fields within the Subsalt Polygon is 246 million boe, according to the 2015 study's most conservative estimate
Mexico to Postpone Deep Water Auction
in this month's auction. He said the government will also allow companies to make a second bid in auctions if an initial bid fails to meet a government set minimum. This month's disappointing auction was the first of a scheduled five-phase auction that will extend into next year for oil regulator CNH. Joaquin Coldwell, also chairman of the board of state-owned oil company Pemex, said the critical fourth phase covering lucrative deep water acreage in the Gulf of Mexico would be postponed to allow the government and companies more time to pore over details. "We are
First Phase of Historic Mexico Oil Auction Misses Expectations
10 percent work program commitment. The energy ministry said previously that at least 30 percent, or five contract awards, of the 14 on offer would constitute a successful auction. Blocks not awarded can be tendered again at a later date. Juan Carlos Zepeda, president of Mexico's oil regulator CNH, said it would take up to two days to verify the required financial guarantees for the winning consortium before the two awards are final. The initial phase of the so-called Round One tender, the first of five phases expected to auction a total of 169 oil and gas fields, comes at
February 2024
