The NOC does not rule out the possibility of operating the mega block won by the Talos Energy, Sierra Oil & Gas and Premier Oil consortium in Round 1. The block is the most important discovery since the start of Energy Reform and would have 2Bbl.
The National Hydrocarbons Commission (CNH) canceled the round to find a partner for Pemex and develop this important area, which was scheduled for January 31st, 2018.
Pemex expects to recover from its difficult situation and performance through alliances with private companies. The NOC aims to offer several farm-outs to achieve it and the Ministry of Finance plays a key role in this process. Carlos Treviño, New CEO of Pemex, talked on this topic.
The development of shale gas and shale oil projects in Mexico requires investments estimated at US$139M, but has only received 0.1% of that amount.
The oil corporation co-founded by Ian Telfer, Chairman of Canadian gold miner Goldcorp Inc, has big plans to develop in the country. Telfer talked about the company’s goals in Mexico in an interview with Reuters.
The National Hydrocarbons Commission (CNH) posted a tender to commercialize oil and gas that the Mexican State will receive from the contracts signed in previous Rounds. Results were negative in this new process.
To maximize its possibilities, Brazil eliminated the need for its NOC Petrobras (BVMF: PETR4) to act as an operator in offshore projects in the subsalt fields. These contain vast reserves of high-value crude which gives companies room to maneuver, Expansión reported.