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Pemex seeks to retain all deepwater fields that it’s drilled

BY CARLOS MANUEL RODRIGUEZ

MEXICO (Bloomberg) -- Pemex is seeking permission to keep all deepwater fields it has drilled,under the so called round zero.

“We want to keep those fields where, after the company’s investments,we have reduced our geological risk,” board member Fluvio Ruiz said in an interview. The company is also asking to retain many of the fields in the Chicontepec area before the government offers other zones in tenders to the private sector, Ruiz said.

Mexico is opening oil and natural gas fields to private and foreign companies for the first time in 76 years to boost production to as much as 4 mbpd by 2025. The Energy Ministry must respond to the request by September 17.The fields and areas not assigned to the state owned producer known as Pemex would be offered in tenders, according to a law enacted by President Enrique Pena Nieto on Dec 20.

“Once the government decides which fields Pemex will maintain, the company may seek joint ventures for the most technically complex projects it keeps,” Ruiz said.

Mexico’s Hydrocarbons Commission will review Pemex' s request and advise the ministry on the technical and financial capabilities of the company to sustain efficiently these areas,the agency posted on its website.

For production, Pemex is asking to maintain areas worth about 83 % of the nation’s probable reserves.For exploration, it wants to keep the rights for zones covering 31 % of the country’s prospective deposits,the commission said.

03/25/2014

 

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