Mexico is looking for large investments and wants to increase its oil production as soon as possible. To achieve this, the Secretary of Energy (SENER) is considering increasing the number of blocks in subsequentrounds, according to a report in El Financiero.
As well, SENER would redesign the auctions based on the Bureau Ocean Energy Management (BOEM) model.
As one of Round 2.1 winners, America’s Fieldwood Energy LLC signed a contract with the National Hydrocarbons Commission (CNH) to start a project in consortium with Petrobral S.A.P.I in the Southeast Basin, where the Ilchakil and Pokoch fields are located.
Preparations for the project that will begin next month are underway, and so far,MXN$107M have been invested in Isla del Carmen Port.
Bribery, oil theft, document falsification, crimes against health and ‘vote buying’ are some of the misdeeds the Attorney General’s Office (PGR) is investigating inside the Federal Electricity Commission (CFE) and Pemex.
In total, the PGR has 22 open files for an undefined number of employees from both companies. All of them are in progress
Renaissance Oil Corp. (TSX-V: ROE) announced the acquisition of the 25% working interest (WI) in the integrated E&P contract for the Amatitlán Block in Veracruz, according to a press release. The corporation joins Lukoil (50% WI) and Marak Capital (25% WI).
Craig Steinke, CEO of Renaissance, said that this agreement is a great opportunity for the companies involved due to their huge expertise.
The company reported its gas production data for 2016. The NOC continues to show negative numbers, but the reduction is not as steep as for crude. The Cantarell block remains as the most important.
According to Pemex data, gas production was 5,792mmcfd in 2016. This means a 9.51% decrease compared to 2015, when the figure stood at 6.401mmcfd.
The Mexican hydrocarbon industry wants to grow but there is much competition. Some oil firms are interested in investing in Cuba as the country unveils its offshore and onshore hydrocarbons investment projects.
About 280 oil-company executives from around the world attended a meeting in Havana to know Cuba´s investment projects. The country has doubled its crude reserves according to recent studies.