Mexico authorized preliminary bidding rules for new offshore blocks as the country prepares for an investment deluge in its recently opened oil industry. Oil regulator CNH approved rules today for 14 shallow-water exploratory blocks that will be auctioned to private companies by the end of July, according to a live feed of the meeting. In a separate vote, the agency also approved production-sharing contracts for the winners.
Oil major Chevron has begun production from its Jack and St Malo deepwater project in the Gulf of Mexico. The company said the delivery is a key part of its upstream work with plans to reach 3.1 million barrels per day by 2017. The fields are among the largest in the Gulf of Mexico and were discovered in 2004 and 2003.
SeaBird Exploration has received a Letter of Award (LOA) from TGS-NOPEC Geophysical Company to acquire up to 300,000km of 2D seismic data in Mexico and the US Atlantic. The company said the LOA will provide TGS access to up to six seismic vessels from SeaBird over a period of 36 months.
Mexico’s state-owned oil firm Pemex has evacuated 15,000 workers from platforms in the Campeche area of the country ahead of a storm. Pemex said its technical analysis group for emergency response had recommended the evacuation.
US-based Stone Energy has secured a rig for a multi-year deep water drilling program in the Gulf of Mexico. The primary contract term for the ENSCO 8503 drilling rig will be for 30 months and is expected to commence during the second quarter of 2015.