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Mexico’s Pemex unveils large oil find

Mexico’s Pemex unveils large oil find

Pemex just discovered new shallow water oil fields that could produce 200,000 barrels a day by 2018. These fields are located in the Gulf of Mexico off the coast of Tabasco and Campeche and are comprised of light crude and heavy crude. by The Guardian, June 10, 2015 The Mexican state oil company Pemex has…

YPF announces new Vaca Muerta shale gas find

YPF has found a new shale gas deposit at Vaca Muerta in the province of Neuquen. by James Perkins, Shale Energy Insider, June 08, 2015 Argentina’s state-controlled energy giant YPF has announced the discovery of a new shale gas deposit in the Vaca Muerta region. The find in the southern province of Neuquén has led to…

Shell interested in Mexico’s shale gas

Shell recently expressed its interest in investing in Mexico’s technology and infrastructure to develop natural gas as a primary energy resource. Although Shell has focused primarily in liquid gas for decades, the company is looking at this as a long term investment and analyzing all opportunities that solve the growing energy demand. by Karol Garcia, El Economista, June 3rd,…

RSI Commences Reservoir Characterization Project for PEMEX E&P

RSI announced new project with Pemex E&P on seismic and CSEM 3D data studies in the Deepwater Gulf of Mexico. This project is part of the agreement that the firm has with Pemex Procurement International and will be executed both in Mexico and the U.S. by Business Wire, June 01, 2015 RSI today announced the award…

University of Texas at Austin hosts Argentinian Delegation Energy Group

by Mariana Serna, University of Texas at Austin On Wednesday June 3rd, the University of Texas at Austin welcomed an Argentinian delegation comprised of government officials and industry experts who came to the U.S. on a fact finding trip. Among those in the delegation were Alex Bottan, CEO of Southern Cone General Electric (GE); Rodolfo…

Petrobras To Help Pemex Explore For Oil

In 2000, Pemex and Petrobras started conversations around a possible collaboration, now 15 years later, such collaboration might come to pass. On late May, Brazilian President Rouseff expressed her interest and offered technical support to Pemex. Although Petrobras is in the middle of a big scandal, it possesses great deep water expertise and Pemex, with  the…

CNH eliminates restrictions on shallow water bids

Comision Nacional de Hidrocarburos or CNH recently lifted restrictions for the exploration and extraction of hydrocarbons in shallow waters of the Gulf of Mexico. The 14 companies that had previously signed contracts, will now be able to offer individual bids for additional projects/areas and are no longer restricted to just 5 areas.Other modifications to the initial contracts…

Venezuela, Russia’s Rosneft agree on $14 billion oil, gas investment

Rosneft has agreed on investing $14 billion on Venezuela’s current and upcoming oil and energy projects.  According to President Nicolas Maduro, the funds will go towards increasing Venezuela’s oil production to target 6 million barrels a day by 2019. Rosneft strongly supports Venezuela, and believes that in case the U.S. and Canada’s shale production declines,…

Investment into Mexico fell 49 percent last year, hastening need for oil and gas funding

Latin America and the Caribbean FDI fell 16% from 2013 to 2014, Mexico being the country with the largest decline on investments. While it is believed that the new energy reform will cause investment to “pick up” economy experts say the big decline is due to Mexico’s underperformance. by Bloomberg, May 27th, 2015 Chile bucked the…

Chevron, Exxon pre-qualify for Mexico’s Round One

Energy giants, Chevron and ExxonMobil, qualified for Round One bid in Mexico. Applicants were required to have expertise in working in shallow waters and demonstrating participation in at least three exploration and production projects with investments of US$1 billion. In total, 26 companies applied for the first bid round. by Audrey Leon, Offshore Engineer, May 26th,…

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