Currently viewing the tag: "Chicontepec"

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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Earlier this year, Pemex launched the second round of integrated service contracts for four onshore and two offshore blocks in the Tampico basin region. As opposed to the first contracts that were awarded, the bidding event for this second round of contracts, which is scheduled to take place this month, has garnered the attention of […]

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Despite announcing a $6.2 billion USD loss at its earnings call today, its largest loss since 2008, Pemex could not have said it better in its investor presentation today when it announced that “the technological and operational efforts carried out in the ATG Project […]

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