PEMEX’s board has approved the state-owned company’s second farm-out, the oil giant announced on Tuesday. The joint venture will cover two shallow water fields off the coast of Campeche, Ayin and Batsil, which have proven reserves of 46 million barrels of oil equivalent (boe). Additionally, the fields contain 3P resources of around 281 boe.
“Petróleos […]Continue Reading →
After weeks of speculation OPEC members have finally reached an agreement to lower oil production for the first time in eight years. Through this agreement Saudi Arabia is expected to diminish 350,000 per day and production is expected to drop from 33.4 million to 32.5 – 33 million barrels of oil per day. Iran, Nigeria […]Continue Reading →
Fieldwood Energy and its Mexican partner PetroBAL could start production as soon as 2019 on the two shallow water oil fields it won at an auction last year in Mexico’s newly opened oil & gas sector, Fieldwood’s CEO Matt McCarroll told Bloomberg News in an interview this week.
The Ichalkil Pokoch fields’ potential appears to […]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 →
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 […]Continue Reading →
PEMEX has just declared its intentions to return a number of previously granted operative fields to the Ministry of Energy (SENER), arguing a lack of resources to operate them. This includes 95 fields that were allocated to the NOC without having been requested and an unknown number of fields that were solicited in the Round Zero application. According to […]Continue Reading →