Pemex Willing to Sell Jack-Up, Platform to Generate Liquidity


Petroleos Mexicanos is seeking buyers for two aging production assets as it looks to generate liquidity amid the industry’s biggest financial crisis in history.

Mexico’s cash-strapped state-run oil producer would sell its Holkan jack-up rig and its Chemul semi-submersible maintenance platform for the right price, said Gustavo Hernandez, director of prospective resources, reserves and associations at the company’s exploration and production arm.

“If the opportunity is presented or a buyer emerges, Pemex would sell” the assets, Hernandez said in an interview on the sidelines of the Institute of the Americas energy conference in La Jolla, California. “Without question, it is an opportunity for Pemex.”

 The two assets, both constructed more than 30 years ago, are no longer in operation but could be put to use by a potential buyer, he said. Hernandez declined to say whether the company has held talks with any would-be buyers or what terms it would seek.

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