Pemex Seeks to Retain All Deepwater Fields That It’s Drilled

Petroleos Mexicanos is seeking permission to keep all deepwater fields it has drilled, under the so-called round zero.

“We want to keep those fields where, after the company’s investments, we have reduced our geological risk,” board member Fluvio Ruiz said in an interview today. The company is also asking to retain many of the fields in the Chicontepec area before the government offers other zones in tenders to the private sector, Ruiz said.

Mexico is opening oil and natural gas fields to private and foreign companies for the first time in 76 years to boost production to as much as 4 million barrels a day by 2025. The Energy Ministry must respond to the request by September 17. The fields and areas not assigned to the state-owned producer known as Pemex would be offered in tenders, according to a law enacted by President Enrique Pena Nieto on Dec. 20

“Once the government decides which fields Pemex will maintain, the company may seek joint ventures for the most technically complex projects it keeps,” Ruiz said.

Mexico’s Hydrocarbons Commission will review the Mexico City based-company’s request and advise the ministry on the technical and financial capabilities of the company to sustain efficiently these areas, the agency posted today on its website.

For production, Pemex is asking to maintain areas worth about 83 percent of the nation’s probable reserves. For exploration, it wants to keep the rights for zones covering 31 percent of the country’s prospective deposits, the commission said today.

To contact the reporter on this story: Carlos Manuel Rodriguez in Mexico City at carlosmr@bloomberg.net

To contact the editors responsible for this story: James Attwood at jattwood3@bloomberg.net Will Wade, Jasmina Kelemen

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.