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Emilio Lozoya News

22 Jan 2015

Oil Majors Seek to Claw Back Costs from Service Firms

Global oil majors say they are demanding cheaper but better services from engineering and service companies, or simply taking work back in-house, after losing hundreds of billions on cost overruns in the last five years. Cost overruns and delays were the main reason why oil majors generated less cash than shareholders expected when oil was over $100 per barrel. With oil now half that price, the urgency of addressing costs and delays rises by the day for the producers. While keen to avoid accusations of ganging up to force terms on suppliers, they are exploring measures that are likely to put further pressure on services companies such as Schlumberger and Halliburton, which have already cut thousands of jobs as business shrinks.

15 Aug 2014

Round Zero Makes Pemex Major Player

Mexican regulators on Wednesday granted Pemex the bulk of its acreage request as the nation's oil industry opens to private participation, consolidating the state-led company's status as a major force despite losing its monopoly status. Meanwhile, the country's initial Round One acreage offering will include a range of opportunities including shale, deep-water, shallow-water, heavy oil and the nation's Chicontepec area. Those contracts, to be awarded between May and September of next year, will cover probable reserves for development of 3.78 billion cubic feet equivalent and prospective reserves for exploration of 14.6 trillion cfe. Round One will include ample feedback from industry and see some initial terms released at the end of November.

04 Aug 2014

Pemex to Launch Transport, Drilling Companies in 2015

Pemex, Mexico's state oil company, will launch new companies next year as it restructures following landmark energy reform, Pemex Chief Executive Officer Emilio Lozoya told local radio on Monday. "The business plan that we're considering for the next year will involve an internal restructuring," Lozoya said. Among the new companies will be a transport and logistics business, Lozoya said. That business will be designed to support foreign companies' access to Pemex's existing pipeline infrastructure, he said.

09 Jul 2014

Pemex Signs Agreement with the British Council

Pemex signed a Memorandum of Understanding with the British Council to promote the training of their workers. The agreement was signed by the director general of Pemex, Emilio Lozoya Austin; Britain's ambassador in Mexico, Duncan Taylor, and the director of the British Council, Lena Milosevic. Thus, they jointly promote seminars, workshops and conferences, as well as the development of academic graduate programs in scientific and technological fields, public, legal and political aspects of economic and political sector activities energy. Also, the relationship with Pemex energy companies, institutions and British universities will be encouraged. The agreement also includes training programs to improve the skills of their staff at the English proficient energy specialist terminology.

04 Oct 2013

Keppel to Operate Mexican Yard with PEMEX

Keppel Offshore & Marine (Keppel O&M) has strengthened its foothold in the offshore and marine industry in Mexico with the signing of an MOU (memorandum of understanding) with PEMEX Exploracion y Produccion (PEP) and P.M.I. Norteamérica, S.A. de C.V. (PMI), both subsidiaries of Mexico's national oil company, Petroleos Mexicanos (PEMEX). The MOU is to jointly develop, own and operate a yard facility in Mexico, the first phase of which is to support the construction of six KFELS B class jackup drilling rigs for PEP. The MOU was signed today by the General Director of PMI, Dr. Jose Manuel Carrera Panizzo, and the Chief Operating Officer and CEO-Designate of Keppel O&M…

28 Mar 2013

Keppel to Build Jackup Rigs Worth $820 Million

Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), secured contracts from Mexican drilling company, Grupo R, to build four jackup rigs worth $820 million (USD). The jackup rigs will be built to Keppel's proprietary KFELS B Class design and are scheduled for delivery progressively from 2Q 2015 to 4Q 2015. When completed, Keppel FELS will have built 10 KFELS B Class jackup rigs for Mexican customers since 2012, including two for PEMEX. Customized to Grupo R's requirements, the rigs will be able to operate in water depths of up to 400 feet and drill to depths of 30,000 feet. PEMEX, the Mexican national oil company has announced investment plans of $25.3 billion for 2013, of which $20 billion will be targeted at upstream activities.