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Mexican state oil company Pemex said on Friday it has discovered a deposit in southeastern Mexico that could yield 500 million barrels of crude, calling it the largest such finding in more than 30 years. Pemex said it first discovered the field in Tabasco state in May, before beginning studies to evaluate its viability. The... Continue Reading →
Big oil companies operating in Mexico have launched a drive to convince leftist President Andres Manuel Lopez Obrador to resume auctions of oil and gas contracts he has branded a failure in reviving the industry. Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell Plc, among other firms in Mexico's Association of Hydrocarbon Companies (Amexhi),... Continue Reading →
With Mexico's government insisting that energy companies increase oil and gas output before it auctions off more of the country's vast reserves or offers more partnerships with state-run Pemex, firms ranging from foreign majors to local players are scrambling to buy and sell blocks they already own. The negotiations are creating a dynamic secondary market... Continue Reading →
The years-old trend that has seen offshore suppliers vie for work in wind by leveraging their offshore oil and gas credentials and development finance is being countered these days by wind players in search of oil and gas jobs, judging by some recent fleet owner moves. Dutch offshore fleet owner, Jan De Nul, was busy... Continue Reading →
Companies that help keep Mexico’s faltering oil wells operating are waiting months to get paid and the debts are building up, complicating efforts to revive an industry whose production has plunged by half since 2004. Pemex, facing pressure from the government to slow spending, has delayed some payments to contractors for as long as seven... Continue Reading →
The market for modern jack-up rigs has reached 90 percent utilization – for the first time in the cycle – and the demand for jack-up rigs is growing, offshore drilling company Borr Drilling has said. Borr said there is visible demand for more than 50 jack-ups in the next 12 months, most of which is... Continue Reading →
OOS Energy, a subsidiary of Dutch firm OOS International, has taken over management of the semi-submersible drilling rig ODN Delba III from Ocyan, formerly known as Odebrecht Oil & Gas. OOS International said last week that the onshore and offshore management teams of OOS Energy Rig Management took over management of the rig on November... Continue Reading →
UK oil company Premier Oil has extended the bid deadline for its interest in the giant Zama field offshore Mexico as “to accommodate levels of interest,“ for which Premier says are significant. The Zama discovery – dubbed one of the largest shallow-water finds in decades – was made in 2017 by the U.S. oil company... Continue Reading →
Pirates attacked an Italy-flagged offshore supply vessel in the southern Gulf of Mexico, injuring two crew members, the Mexican Navy said on Tuesday, in the latest outbreak of robbery and piracy to hit oil platforms and infrastructure in the area. One of the crew members of the boat, Remas, received a bullet wound, and the... Continue Reading →
U.S. oil company Talos will have a formal resource report on its large Zama oil discovery offshore Mexico by the end of the year. Talos made the discovery in 2017 – one of the largest shallow-water finds in decades – and has during the summer completed the appraisal program at the field aimed to better... Continue Reading →
Brazil Energy Insight 