Pemex begins signing contract for new projects

As reported by Reuters, Pemex has begun signing contracts with oilfield service firms specifically invited to submit bids for a new batch of priority exploration and production projects, the state-owned company’s chief executive has said.

Octavio Romero said on the sidelines of an energy event in Ciudad del Carmen that the closed bidding process offers Pemex cost savings.

“We invite the companies, who form consortia to carry out these comprehensive projects, from construction of the facilities, the drilling of wells, laying both marine and onshore pipelines ... and the consortium that offers the best price wins,” Romero told reporters late on Thursday.

Romero said he expects all the related contracting for this year’s projects to be finalised by the middle of this year.

Romero has previously said Pemex aims to discover and develop 20 new oil and gas fields each year, targets viewed as extremely optimistic by industry analysts.

Only three of the 20 priority projects selected last year reported crude production as of last December, according to data from Mexican oil regulator CNH.

Source: oilfieldtechnology.com