Egyptian Company to Develop Mature Oil Fields With Mexico’s Pemex

5 Oct 2017   Egypt, Mexico

State oil company Pemex’s effort to secure a partner for two shallow-water fields in the Gulf of Mexico fell flat as none of the registered companies presented bids. Cheiron, part of the Pico Group, will join Pemex in the Cárdenas and Mora fields in the southern state of Tabasco, which are estimated to contain combined reserves of about 93 million barrels of light and extra light crude. Cheiron specializes in developing mature fields. Cardenas and Mora are in the second of three areas for which Pemex was seeking partners at Wednesday’s auctions. No bids were made for two shallow-water fields in the Gulf of Mexico—Ayín and Batsil—under a production-sharing contract. Bids for the onshore Ogarrio field are scheduled for later Wednesday. All three auctions are for 50% stakes in the projects. Ayín and Batsil are located in the southern Gulf of Mexico near Pemex’s main offshore-producing region, although at […]

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