Mexico to Postpone Deep Water Auction
Mexico, which has started to open its nationalized oil industry to additional private investment, will postpone auctions for deep-water oil exploration and production contracts and adjust the terms of upcoming tenders after an inaugural oil auction failed to meet the government's modest expectations. Energy Minister Pedro Joaquin Coldwell told local television the government will change rules that scared off potential bidders earlier this month, when it was able to auction only two of 14 blocks in a pivotal oil and gas tender. He signaled that the government will relax its requirement that consortia bidding on oil parcels must have one member act as a guarantor and hold shareholder equity of at least $6 billion to protect the state's interest in the event of a major accident.
STX Offshore Wins $253m Order for Drill Ship
According to a report from Asia Pulse Data Source, STX Offshore & Shipbuilding Co., a South Korean shipbuilder, has won a $253m order to build a drill ship. Under the deal with Noble Drilling Asset Holding Corp. of the United States, STX Offshore will deliver the vessel used for deep water oil exploration by May 2012. (Asia Pulse Data Source via COMTEX)
Rolls-Royce Marine Tech Off Brazil’s Coast
Rolls-Royce has secured a $61.3b contract to supply a newly-developed anchor handling system that will enable floating oil platforms to be secured to the seabed in the extreme depths off the coast of Brazil. The system has been developed in response to the increase in deep water oil exploration and will be fitted to two vessels serving platforms owned by Brazilian oil company Petrobas. The vessels are currently under construction by STX Brasil Offshore and each one will carry more than 1,000 tonnes of Rolls-Royce equipment.
China to Build Deep Water Oil Exploration Fleet
China will build its own deep water oil exploration fleet in three to four years. The fleet will be able to work in deep waters all over the world, except for the north pole. China's Offshore Oil Company has launched the strategy for building such a fleet. The company's spokesman, Liu Junshan, said one of their future targets would be deep sea oil exploration. They will invest up to $1.33b in the construction of modern equipment for deep sea drilling, a laboratory, and a working fleet. [Source: www.chinadaily.com]
