The terms of December’s Trion farm-out have been loosened for a second time in recent months after Mexico’s oil exploration and extraction regulator CNH ruled on Oct. 15 that companies qualified as operators can bid individually in the tender.
Previous terms required them to bid in groups.
This could lead to a single operator winning […]Continue Reading →
Malaysia’s oil & gas services provider giant SapuraKencana is in the process of building a US$113 million 18km gas pipeline to connect platforms E-KU-A2 and CA-AJ-1(J4) of the Ku-Maloop-Zaap (KMZ) heavy oil crude field in Mexico’s Campeche Sound.
The contract, awarded in July to the company by Mexico’s state-owned oil firm PEMEX, was obtained through […]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 […]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 →
On September 6th Mexico’s Ministry of Finance released the minimum royalty values for companies participating in Round One’s last oil tender, as well as the economic conditions for the Trion farm-out. Both announcements have been highly anticipated by the operators expecting to enter the deep-water market in Mexico.
Regarding the deepwater oil tender, the Ministry […]Continue Reading →
Robert Gordon University in Scotland has been awarded funding for the creation of a program aimed at resolving the skills shortage in Mexico’s oil and gas industry. The Aberdeen-based institute secured the resources from the British Embassy in Mexico through the UK government’s Prosperity Fund.
The initiative will contribute towards filling the estimated 135,000 jobs […]Continue Reading →