After weeks of speculation OPEC members have finally reached an agreement to lower oil production for the first time in eight years. Through this agreement Saudi Arabia is expected to diminish 350,000 per day and production is expected to drop from 33.4 million to 32.5 – 33 million barrels of oil per day. Iran, Nigeria […]Continue Reading →
As authorities and industry leaders came together for the British Chamber of Commerce’s Mexico Energy Day 2016 on Tuesday, it became clear that the United Kingdom’s longstanding expertise in deep-water exploration and production can prove an invaluable asset for Mexico as its recently liberalized industry starts exploring the possibilities in the Gulf of Mexico. Close […]Continue Reading →
Mexico’s oil regulator announced that PEMEX’s agreed stake in the upcoming Trion farm-out is to be reduced to 40 percent, down from the original 45 percent. The Trion block, located in the Perdido Fold Belt, is set to become the first area in Mexico’s deep waters involved in a joint venture between PEMEX and […]
by Lucy Raitano
Following Schlumberger’s WesternGeco and ION’s announcement of a new 3D multiclient reimaging broadband program offshore Mexico, WesternGeco’s president, Maurice Nessim, announced a new partner on Thursday. The project will be joined by Malaysia’s national oil company Petroliam Nasional Berhad’s (PETRONAS) through its wholly-owned subsidiary, PETRONAS (E&P) Overseas Ventures Sdn Bhd, who will license a significant […]Continue Reading →
Last Thursday McDermott International, Inc. started the construction of Abkatun-A2, the largest McDermott project for PEMEX regarding size and financial investment. Abkatun-A2 will replace the platform Abkatun-A, which was damaged in April 2015 during a fire and will be installed in Campeche at a 124 ft. depth. In a press release, McDermott stated this project […]Continue Reading →
Fieldwood Energy and its Mexican partner PetroBAL could start production as soon as 2019 on the two shallow water oil fields it won at an auction last year in Mexico’s newly opened oil & gas sector, Fieldwood’s CEO Matt McCarroll told Bloomberg News in an interview this week.
The Ichalkil Pokoch fields’ potential appears to […]Continue Reading →