Currently viewing the tag: "Chicontepec"

Last week, PEMEX’s different subsidiaries tackled monopolistic practices accusations in natural gas, disputing CRE’s established LPG rates and outlining deepwater drilling plans, while to-be Minister of Energy Rocío Nahle declared Mexico would not see any new E&P licensing rounds until 2021. Meanwhile, natural gas in the US is facing a perfect storm of increased […]

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This an excerpt from Mexico Oil and Gas Review 2015 which gives insight into PEMEX E&P’s plans and expectations for 2016.  If you would like to get complete information and other relevant insights regarding the Mexican hydrocarbon industry, get your copy of Mexico Oil and Gas Review 2015.

 

Exclusive interview with Gustavo Hernandez, Director General of PEMEX […]

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After months of waiting, the Ministry of Energy (SENER) finally announced the deepwater blocks that would be tendered in Round One’s phase four, the crown jewel of the reform. To the surprise of industry experts, the ten blocks on offer are very different to those originally planned by the authorities earlier this year. They are […]

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The New Economics of Oil

What if everything you thought you knew about oil was wrong? That is the idea behind the paper published last week by Spencer Dale, BP’s Chief Economist.

New Economics of Oil takes the key principles and beliefs we think underpin the operation of the oil market and reveals […]

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Spread across the states of Veracruz, Puebla, and Hidalgo, Chicontepec is Mexico’s largest hydrocarbon reserve to date, with around 17.7 billion boe and 28.4tcf of probable gas reserves. Such was the enthusiasm for its potential that President Vicente Fox once announced that PEMEX would invest US$37.5 billion by 2026, including the drilling of 13,500 wells […]

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We cannot presume to know what Pemex’s expectations were for its third round of ISC contracts, but it’s not entirely unreasonable to assume they were disappointed by the results; after all, Pemex officials were quoted referring to the outcome as an “unforeseen scenario”: Of the six blocks offered, only three were successfully awarded […]

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