Pemex Launches Paleocana Works, Services Tender

Mexican state oil company Pemex's E&P unit Pemex Exploracion y Produccion launched on Tuesday an international works and services tender to produce at hydrocarbon wells in the Paleocanal de Chicontepec zone.

The work will be carried out in the areas of Agua Fria, Copechaca Tajin, Amatitlan, Profeta Izapotempa, Vinazco and others along the border of Veracruz and Puebla states, according to bidding rules.

Pemex has budgeted US$90 million during the first year of works, which will take a total of four years. Offers are due February 12 and contract signing is slated for April.

Paleocanal de Chicontepec is in the Tampico-Misantla basin and covers 3,731 sq km. It contains upwards of 40% of the country's total oil equivalent reserves.

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