Pemex to operate at least two new blocks

MEXICO CITY, March 28, 2018 – Pemex will retain operatorship of at least two of the shallow-water areas it won in Round 3.1, the NOC’s head of E&P said in an interview with international media following the bidding round on Tuesday.

The company came away as the biggest winner of the tender, winning seven blocks across the Tampico-Misantla, Veracruz and Southeastern basins. Six of those blocks were won in several consortium arrangements, including one with Total, one with Shell, one with Compañía Española de Petróleos and another with both Compañía Española de Petróleos and DEA Deutsche Erdoel.

“We can say that of these six blocks that we won [in consortiums], in two of them we will be the operator and in the other four, our partners will be the operators,” Jose Antonio Escalera told Reuters.

Escalera also said that Pemex would invest up to USD 300 million in the seven new blocks during their exploration phases, and that it would likely begin drilling its first exploration well in Southeastern Basins Area 13, which it took as an individual bidder, in 2019 or 2020.

Read our latest insights on: