Mexico

Premier Oil raised the initial oil in place estimate at the Zama field, which is part of its consortium with Sierra O&G and Talos Energy. The initial estimate was about 1.2 billion boe, the British company updated this estimate from 1.2 to 1.8 billion boe.

CNH announced that it will tender 35 blocks in Round 3.1, the distribution of these blocks will be as follows: 14 in Burgos Basin, 13 in the Tampico-Misantla Basin and the remaining eight in the Veracruz and Tabasco Basins.

Round 3.1 will be held on January 31, 2018

Pemex started a maintenance program for its refinery located at Madero, Tamaulipas. Since this refinery processes 9.4 percent of the  crude at the national level, this maintenance aims to secure and improve its performance according to the NOC.

 

International

Total acquired the Danish subsidiary Maersk Oil, which belonged to the A.P. Moller-Maersk group, for a total of US$7.45 billion. With this transaction, the French E&P company becomes the second largest operator in the European north-west offshore region.

Total acquires Maersk Oil for $7.45 billion in a share and debt transaction.

 

Oil prices rose nearly 1% on Friday as the dollar fell after Federal US Treasury Reserve chairwoman Janet Yellen did not allude to monetary policy in her speech at the annual meeting of central bankers.

Ecopetrol proposed to perform a controlled test to demystify hydraulic fracturing operations in unconventional reservoirs. This field test will consider the participation of local authorities, communities and local representatives to clarify that risks such as seismic activity and  contamination of water reservoirs can be prevented when operations are carried out properly and in accordance with international quality standards, such as the ones from   the Environmental Protection Agency (EPA) from the US.

 
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