Mexico’s state-owned oil company PEMEX’s requested and was denied a request to migrate its huge Ku-Maloob-Zaap asset to a single Exploration and Extraction Contract without a partner, in a move that could have lowered the tax burden attached to the Gulf of Mexico field, media reports said.
The proposal, presented to CNH by SENER, was […]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 →
The sudden and severe drop in global oil prices has led to difficulties for a vast majority of oil companies, and PEMEX is far from being spared from disaster. Production at the parastatal is at its lowest level in six years, and adding to its intrinsic challenges comes a decline in drilling activities.
In 2014, […]Continue Reading →
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 […]Continue Reading →
Just three days after the successful R1-L3 that oversaw the allocation of no less than 100% of the 25 fields tendered, government officials and experts voice their hopes and concerns over the results.
Lourdes Melgar, Undersecretary of Hydrocarbons at the Ministry of Energy (SENER), explained that the design of the tenders was consciously […]Continue Reading →
December 15th 2015 marked an important date in the history of Mexico’s oil and gas industry, as the winners of the much awaited Round One L-03 were announced. The process tendered 25 onshore fields located in Chiapas, Nuevo Leon, Tabasco, Tamaulipas, and Veracruz, and was divided into two parts, according to the type of field. […]Continue Reading →