Pemex deepwater tie-up auction cancelled

MEXICO CITY, December 8, 2017 – Mexico’s National Hydrocarbons Commission on Thursday cancelled a tender for a Pemex JV in the Maximino-Nobilis area, located in the deepwater Gulf of Mexico.

Pemex had been seeking a JV to exploit the super-tight crude of the area, but no companies expressed an interest in participating in the auction, scheduled for January 31.

The state oil company had initially planned a 49% share in the proposed JV, but in November scaled back this figure to 40%.

The National Hydrocarbons Commission had anticipated the Maximino-Nobilis asset to begin commercial production by 2024 and see a peak output of 174,000 boepd, with 265 mcf (7.5 mcm) per day of gas brought on line two years later.

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