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.
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.
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.
