Pemex starts new round of integrated contracts

 

Stories You Might Like

 
 
 
new
Portfolio Relevance
LEARN MORE

Want to see how this story relates to your portfolio?

Just add items to create a portfolio now:

 

or Cancel Already have a portfolio? Log In

 

 

By Anthony Harrup

--Integrated service contracts include incentives, but no risk-sharing

--Chicontepec a key region for Pemex's future output

--Contracts expected to be awarded in July

MEXICO CITY--Mexican state oil monopoly Petroleos Mexicanos said Thursday that it's seeking bids from private companies to develop oil fields in Chicontepec, a sprawling region of reserves mostly in Veracruz and Puebla states.

The contracts are for six areas which average 125 square kilometers, with combined 3P reserves--proven, probable and possible--estimated at 2.2 billion barrels of crude oil equivalent, Pemex said. The types of oil in the deposits range from medium to light.

The Chicontepec contracts are Pemex's third round of "integrated service contracts," which were drawn up after changes were made in 2008 to the country's restrictive energy laws, where Pemex is the only company allowed to book reserves.

Pemex expects to award the contracts in July - BUT I EXPECT ALOT MORE ACTION ON OTS BEFORE THEN !!!!