Mexico's Oil Reform a Boon for Hard-hit Oil Service, Seismic Firms
Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil firm Pemex. The government of President Enrique Pena Nieto hopes the deepwater sale will attract tens of billions of dollars of investment to turnaround a slump in the country's oil output. Seven previous auctions drew investment pledges of $61 billion.
Offshore Deepwater Rebound?
Statoil was awarded blocks 1 and 3 in the Saline Basin in the Deepwater exploration tender in the Mexican Round 1. The blocks cover an area of about 5,650 km2 (18,500 square miles) in the largely unexplored deepwater areas of the Saline Basin. Statoil will be the operator of blocks 1 and 3, at 33.4% equity, with partners BP and Total participating equally with the remaining equity. The licences were awarded in a competitive bid round. A total of 10 deepwater blocks were on offer, with four in the Perdido Area and six in the Saline Basin.
Oil Majors Pay Mexico Regulator $80 Mln for Deepwater Data
Oil companies have paid Mexico's oil regulator nearly $80 million for seismic data ahead of an auction for deep water fields, suggesting robust interest in the tender despite a lasting slump in the price of crude. Thirteen companies, including Exxon Mobil, BP and BHP Billiton, have paid a total of 1.38 billion pesos ($78 million) to date for licenses to use deep water data, according to a document from national oil regulator CNH seen by Reuters. Company executives say the sum reflects only a fraction of their spending in the past year to acquire geological data ahead of the Dec. 5 auction, which will feature 10 largely unexplored blocks in the Gulf of Mexico.
Mexico Lifts Bidding Limits for First Batch of Oil Tenders
Mexico's oil regulator voted on Friday to relax rules on bidding terms and contracts that form the first step in a historic sector opening that kicks off this summer with the public auction of 14 shallow water fields. The July auction will mark the first of five packages of oil fields up for grabs, part of a so-called Round One tender that follows a major energy reform approved by Congress last year. The constitutional reform ended the decades-long monopoly enjoyed by state-owned oil company Pemex and aims to reverse a decade-long slide in Mexican crude output.
Mexico Removes Bid Limit on Shallow Water Oil Tenders
Mexico's oil regulator voted on Friday to relax previously established rules on bidding terms and contracts that form the first step in an historic sector opening that kicks off this summer with the public auction of 14 shallow water fields. The July auction will mark the first of five packages of oil fields up for grabs, part of a so-called Round One tender that follows a major energy reform approved by Congress last year. The constitutional reform ended the decades-long monopoly enjoyed by state-owned oil company Pemex and aims to reverse a decade-long slide in Mexican crude output. Responding to complaints from private and foreign companies, the national hydrocarbons commission, or CNH, eliminated caps on how many contracts firms can bid on.
PGS ASA - First Mover Offshore Mexico
Petroleum Geo-Services ASA (PGS) commenced operations of a MultiClient 2D seismic program offshore Mexico on May 16th. The two 2D vessels Atlantic Explorer and Sanco Spirit will acquire multiple projects recently approved by the Mexican government. The first program to be acquired is the Mexico Well Tie MC2D which will provide clients with an excellent grounding for understanding the hydrocarbon prospectivity in the area. Fast track products will be available in June 2015. "PGS…
US Well Control Regulations Proposed
U.S. In response to the findings of investigations into the Deepwater Horizon tragedy, and following a thorough evaluation of recommendations from industry groups, equipment manufacturers, federal agencies, academia and environmental organizations, Secretary of the Interior Sally Jewell announced proposed regulations to better protect human lives and the environment from oil spills. The measures include more stringent design requirements and operational procedures for critical well control equipment used in offshore oil and gas operations.
McDermott Yard in Mexico Now a Free Trade Zone
The Central Administration of Customs in Mexico has authorized McDermott International, Inc. to operate its Altamira fabrication facility near Tampico, Mexico as a free trade zone. Located on the Gulf of Mexico coast and serving both PEMEX domestic requirements and export work for international clients, Altamira is now the first fabrication facility licensed to operate as a free trade zone in Mexico. “The benefits of operating as a free trade zone to McDermott’s international clients is through the ability to import components…
Naviera Integral Orders Damen Fast Crew Suppliers
Naviera Integral of Mexico is the launching customer of Damen’s new Sea Axe Fast Crew Supply vessel, the FCS 4008. President of Naviera Integral, Juan Pablo Vega, signed the order for the two new vessels at an official ceremony at the Offshore Energy Exhibition in Amsterdam. Naviera Integral’s two new vessels are due for delivery in 2016. A company in offshore transport and supply services with a fleet of 35 vessels, Naviera Integral has been a customer of Damen since the late nineties, operating more than 20 Damen vessels.
Oceanteam Focuses on Mexico Strategy
The company says it saw, with its early focus on Mexico, a long term strategy confirmed: its newly founded DOT Shipping partnership with Grupo Diavaz and the subsequent approval of the Mexican Energy Reform legislation is envisaged to create significant opportunities for the company. These important events triggered plans prepared by the company and have so far resulted in the order, finance and time chartering of two new build FSV's. DOT Shipping will focus on providing high-end vessel solutions and marine asset services in Mexico.
Mexican Alfa Tie-up with Pemex for Onshore Exploration
Mexican conglomerate Alfa He is interested in participating in association with the state oil company Pemex Exploration Projects in fields on earth, aunque también hacerlo the rule in shallow waters, dijo el viernes el director de Energía the company, Raul Millares. Pemex announced last week that he will seek partners in three mature onshore fields that together contain 2P reserves (proven and probable) for about 250 million barrels of oil equivalent (MMboe). The state said it will too for extra heavy oil fields in shallow waters Ayatsil-Tekel-Utsil in the southern Gulf of Mexico, with 2P reserves of 747 MMboe. "We have more preference or vocation to be more exploration in land…
Swiber to Fly Mexican Flag on 4 More OSVs
Singapore-based Swiber informs it will hoist the Mexican flag on another four vessels in its fleet, comprising one derrick pipelay barge and three anchor handling tug / supply vessels (AHTs). Five vessels were deployed in Mexico three years ago when Swiber landed its first contract win in Latin America, with the construction of a 77 kilometer-long submarine pipeline project in Mexico for Pemex. Swiber has since actively performed a number of major offshore construction projects in the region, and gained a reputation for its commitment to excellence, competitiveness and safety.
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…
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.
Mexico's Lower House Pass Energy Reform Bills
Committees in Mexico's lower house on Saturday approved laws fleshing out a landmark energy reform that seeks to drive private investment into the long-shuttered sector. The so-called secondary laws, which detail the implementation of the constitutional energy reform passed last year, will head to the floor of the lower house, where lawmakers will debate them beginning on Monday. If they are fully approved in the lower house, some of the secondary laws will head to the Senate for final approval. The laws passed in committees on Saturday create a new tax framework for Pemex, guidelines for contracts and tax benefits for states where extraction occurs, among other things.
Mexico's Senate OKs Bills Expanding Power of Energy Regulators
Mexico's Senate gave general approval on Monday to legislation laying out expanded powers for energy regulators, part of the fine print needed to implement a constitutional reform that overhauls the oil, gas and electricity sectors. Senators must still debate reservations to the regulatory legislation, which is likely to last into the night. The legislation forms part of the so-called secondary laws needed to flesh out the opening of the energy market, which is the centerpiece of the government's reform agenda. Once the reservations have been voted on in the Senate, the focus will move to the lower house of Congress, which is already debating the secondary laws passed by the upper chamber.
Mexico Puts Gulf Deepwater Oil Treaty with US into Effect
Mexico on Friday put into effect an agreement signed in 2012 with the United States to allow companies to exploit deep water oil resources in the Gulf of Mexico that straddle the countries' maritime boundaries. The deal, published in the government's gazette, lifts a moratorium on oil and gas exploration and production along the countries' maritime border in the Gulf and sets up a framework for companies to jointly develop any trans-boundary reservoirs. State-run energy company Pemex has lagged far behind the United States in developing deep water oil reserves, but an opening of the oil and gas industries to private investment is expected to spur more projects in the Mexican side of the Gulf.
Draft Mexican Energy Law For Higher Local Content Level
Mexican Lawmakers aim to set higher than first Planned Minimum requirements for Materials, How much local labor and companies investing in the Oil and Gas Industry must use, According to a Revised Draft of pending Legislation. Mexico 's Congress is in the Process of Approving so-called secondary laws to Implement the Government's December 2013 Energy reform, which the Forms of President Enrique Pena Nieto Cornerstone's Economic Growth Strategy to boost flagging. The laws, which Establish the Fine Print of the reform Ending the Oil and Gas Monopoly Granted to State Oil giant Pemex in 1938, are being Closely watched by Oil Majors Such as BP Plc and Exxon Mobil Corp..
Pemex Crude Output Lowest In March
Crude oil production from Mexico's state-run oil company Pemex totaled 2.469 million barrels per day (bpd) in March, the company said on Friday, marking the lowest level of output since the 1990s. The level of crude production in March was the lowest level of monthly output since June 1990, according to energy ministry data, excluding a single month in 1995 when output was down by more than 800,000 due to Hurricane Roxanne. Meanwhile, crude oil export volumes in March were down 11 percent at 1.133 million bpd compared to the previous month…
TGS Signs LOI for Seabird Exploration Seismic Vessel Charters
Norway-based TGS informs that it has signed a Letter of Intent with Seabird Exploration to charter up to four 2D seismic vessels to be used over the next 36 months. The Letter of Intent gives TGS priority rights to the vessels subject to the issuance of seismic acquisition permits for the offshore waters of Mexico. In December 2013, Mexico's Congress gave final approval to a historic energy reform bill that ends the 75-year state monopoly of the country's oil and gas industry and invites foreign investment.
USS Kearsarge Hosts Senate Field Hearing on Energy
Norfolk, Va. - Amphibious assault ship USS Kearsarge (LHD 3) hosted a Senate subcommittee field hearing on energy March 12, the first time since 1960 that a Senate hearing was held aboard a Navy vessel. Senator Jeanne Shaheen, chair of the Senate Subcommittee on Water and Power, was joined by Senator Mark Warner from Virginia. Among those who addressed the two Senators were Secretary of the Navy Ray Mabus and Former Secretary of the Navy and retired Senator John Warner. Both testified about the Navy's current strategy to reduce energy consumption and decrease its reliance on foreign oil.
StatoilHydro, Embassy Photo Exhibition
Norway's Crown Princess Mette-Marit and Crown Prince Haakon Magnus, opened StatoilHydro's and the Norwegian Embassy in Mexico’s 120-photo exhibition, Norway Powered by Nature, on Monday 16 March. The exhibition, which lines the outside of Chapultepec Park and the Reform Avenue in Mexico City, shows Norway through the four seasonal changes with a special emphasis on the oil and gas industry. The photo exhibition will be open to the public for one month, and all photo text is presented in both English and Spanish.