Mexico's Pemex sees private partners adding value

Friday, November 10, 2017

Partnerships between Mexico's Pemex and private sector firms will allow for the generation of greater value in the hydrocarbon production chain as the company shifts its focus to profitability, according to the head of the state-owned oil firm's E&P division (PEP).

Javier Hinojosa Puebla (pictured) said the energy reform has ushered new oil companies into the country and, in this scenario, the correct quantification of hydrocarbons is essential to provide certainty to producers, the State, as well as oil operators and regulatory, oversight and control bodies,

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The executive was speaking at an exhibition on hydrocarbons measurement in the oil city of Ciudad del Carmen.

Pemex said in June it would accelerate farmouts and strategic associations in all lines of its business to increase crude oil and petrochemical production, increase reserves and access new technology in its operational processes.

In February, Pemex, Chevron and Inpex signed a deepwater partnership contract, and the NOC and BHP Billiton signed a licensing contract in March to jointly develop the Trión deepwater block, while

In July, the company embarked on a farmout roadshow to market its reserves to investors.

Also read: Pemex to increase oil output in 2018

In August, hydrocarbons regulator CNH approved Pemex's request to reassign areas in the deepwater Perdido belt by selecting partners with which to develop the offshore fields. The three areas comprise 1,524km2 and lie at a depth of 500-3,600m, and contain 3P reserves of 502Mboe, and contain nine exploratory wells within four fields: Supremus, Maximino, Nobilis and Mirus.