Pilot Program in Mexico Classifies Oil and Gas Projects Using UN Framework
A pilot project was initiated to classify oil and gas projects in Mexico using the United Nations Framework Classification.
Dispute Over Mexico’s First Foreign Offshore Discovery Is Drawing to a Close
Pemex and Talos Energy have 120 days to decide how to share a massive offshore field that both companies claim they should operate. Failure to come to terms means the government will decide the matter.
Wintershall Dea Makes Third Oil Discovery in Less Than a Month
Two discoveries offshore Mexico add to April’s finding in the Norwegian Sea.
Production Lifting Costs Shrinking
The savings result in part from the depreciation of global currencies against the US dollar, as most operating expenses in oil and gas production are realized in local currencies. Brazil leads in savings.
Eni Makes Another Discovery Offshore Mexico, Expects Several More
The Italian oil and gas company has found its second big well offshore Mexico and is setting its sights on several more in the near future.
Pemex Unveils Plan To Undo “Failure of Energy Reform”
Mexican President Andrés Manuel López Obrador is prioritizing investment in Pemex over foreign participation as a means to boost the country’s shrinking oil output.
Oil Begins Flowing from Eni’s Area 1 Offshore Mexico
Early production from Area 1 is the first output from an international operator in Mexico since energy reforms were implemented earlier this decade.
Zama Appraisal Program Offshore Mexico Ends With Positive Results
Operator Talos Energy now believes Zama’s gross recoverable resource lies in the upper half of its pre-appraisal estimate of 400–800 million BOE. The consortium is working toward a 2020 final investment decision on the project.
Malaysia’s Petronas is Looking Near and Far for Gas and Oil
The state-owned firm is looking within its home country, around Southeast Asia, and to the Americas—including shale—in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years.
Mexico’s Giant Zama Discovery Gets New Interest Owner
DEA Deutsche Erdoel is buying Sierra Oil & Gas, giving the German operator stakes in six new blocks off Mexico—including the Zama discovery, where appraisal drilling is now under way.
Eni Gets Development Approval for Area 1 Offshore Mexico
The Italian firm is slated to become the first international operator to produce oil from Mexican waters since energy reform took hold. The launch of early production from Area 1 is expected in first-half 2019.
International Majors Expand Footprints in Brazil, Mexico
With presidential elections looming and energy reforms at a critical juncture, the two Latin American energy powers awarded a bevy of blocks to a who’s who of international oil companies.
Zepeda Touts Mexican Upstream Industry’s ‘New Information Market,’ Constitutional Resiliency
CNH President Juan Carlos Zepeda discusses the role of information management in Mexican energy reform and what lies ahead for the monumental industry transformation in an election year.
Shell Dominates Mexico’s ‘Very Successful’ Second Deepwater Auction
Mexico’s Round 2.4 deepwater auction surpassed expectations as 19 of 29 blocks were awarded to 11 firms from 10 countries.
Talos’ Niche Strategy Notches Bigtime Bounty
Finding niches that provide a competitive edge over larger operators has enabled Talos Energy to leapfrog into a powerful position with Mexico’s first offshore wildcat discovery.
Petrofac Sells Stake in Pánuco Contract to Schlumberger
Petrofac sold its 50% interest in Petro-SPM Integrated Services to Schlumberger. Petro-SPM operates the Pánuco Integrated Service Contract in Mexico. Schlumberger now owns 100% of Petro-SPM.
Joint Venture Hits Historic Mexico Oil Discovery
A major offshore discovery led by Talos Energy is the first successful wildcat well drilled by a private company in Mexico in almost 80 years and a milestone for the country’s recently enacted energy reform.
Round Two in Mexico: 10 More Offshore Fields Awarded
The upstream sector for Mexico’s offshore oil and gas fields continues to diversify after its most recent tender.
Deepwater Renaissance? Hopes Run High for Mexico Prospects
OTC panelists were excited at the potential of deepwater exploration offshore Mexico and believe that opportunities there could eventually drive a big new wave of activity.
For Pemex, Partnerships and Profitability Are The New Focus
The new CEO of Pemex outlined his plan to reverse the state-owned company’s struggling financial and production situation.
Mexico Takes Another Step Toward Tapping Needed Resources
To meet its projected oil demand in 2040, Mexico must see about USD 30 billion/year in upstream investment. BHP Billiton’s contract signing with Pemex represents a step in the needed direction.
Mexico Awards Its First Deepwater Blocks; What Comes Next?
Mexico’s long awaited deepwater auction saw 8 out of 10 blocks awarded but there remains plenty of work to be done before activity ramps up, including finalizing regulatory rules, upgrading ports, and optimizing the bid rules for future auctions.
Mexico’s Deepwater Auction a Success; Now What?
Mexico’s historic public tender for its deepwater real estate resulted in the awarding of eight out of 10 blocks on offer.
Anticipation, Uncertainty High for Upcoming Mexico Auctions
The opening of Mexico’s oil and gas sector was a landmark moment in the industry, but despite the potential upside, the uncertainty and risk surrounding unfamiliar offshore territory in a volatile price market kept many potential investors at bay.
How Mexican Energy Reforms Have Affected the Service Sector
Of all the attention generated over the opening of the Mexican oil and gas sector to the outside world, one consideration has been largely left out of the discussion: What does it all mean for service companies?
Onshore Support for Mexico’s Deepwater Blocks Lacking
The deepwater blocks Mexico plans to lease to international operators in December are among the deepest, most remote, and geologically challenging in the world. But the difficulties of developing these areas will start onshore, where adequate and secure port facilities are few and far between.
Mexico’s Onshore Auction Considered a Success, Deepwater Up Next
Each of the 25 onshore blocks offered to private companies in Mexico’s December auction were awarded, almost all of which went to Mexican companies.
Three Offshore Blocks Awarded in Mexico’s Second Auction
Mexico’s second oil and gas lease auction has been deemed a success after three out of five shallow-water blocks were awarded in September. The awarded areas contain an estimated 236 million bbl of oil and 190 Bcf of gas.
Major Oil and Gas Discoveries Offshore Mexico
In June, Mexico’s national oil company Pemex announced its largest discoveries of oil and gas in 5 years. Located in the shallow-water basin of the Gulf of Mexico offshore Tabasco and Campeche, the four new fields are estimated to hold 350 million bbl of oil.
Drilling Evolves as Exploration Campaign Moves to Deeper Water Offshore Mexico
During the 10-year period between 2003 and 2013, Mexico drilled 30 deep- and ultradeepwater wells in water depths ranging from 512 to 2900 m.
Unconventional-Reservoir Development in Mexico
In 2010, exploration of gas-rich and possibly liquid-rich shale reservoirs began in northern Mexico. A two-stage integrated workflow was developed to achieve set objectives.
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