On May 30, Carlos Treviño, CEO of PEMEX, led the agenda of PEMEX Farmout Day, an event held in Houston. During the event, seven blocks were presented for the upcoming farmout bidding process to take place on Oct. 31. The soon-to-be tendered blocks are: The Artesa, Bedel Gasífero, Bacal Nelash, Cinco Presidentes, Giraldas Sunapa, Juspi Teotleco and Lacamango, which are located in the states of Veracruz, Tabasco and Chiapas.
“PEMEX has demonstrated itself to be a highly reliable and competitive partner because it has incorporated the best international practices from the industry into its DNA. We have a strong foothold in Mexico thanks to the knowledge and experience of our engineers, technicians and workers in general,” Treviño said.
The seven blocks have 3P reserves that amount to a total of 405.1 million BOE, with estimated prospective resources of 683 million BOE. With the partnerships PEMEX expects to boost the production of these blocks, which as of today account for 43,000b/d and 228mmcf/d of natural gas.
Farmout Day is a forum for PEMEX to present its projects to interested investors from all over the world, while allowing these private players to access new business opportunities with the NOC in terms of E&P activities. It is worth highlighting the importance of farmouts and strategic business associations for PEMEX to complete its operative capacity and strengthen its finances, according to its 2017-2021 Business Plan.