Euro Block E&P Tender Fails to Attract Bidders

Mexican state oil company Pemex's E&P unit Pemex Exploracion y Produccion (PEP) has received no offers for an E&P works contract for the Euro block in the Burgos basin.

Pemex will "examine the technical information, reevaluate the reach of the work program and determine the strategy to follow for the tender," the company said in a statement.

PEP on March 5 awarded the Nejo block E&P works contract to a consortium made up of local firm Monclova Pirineos Gas and Spain's Cobra.

And on March 22, the E&P unit awarded the Monclova to a group of Mexican firms, Construcciones Mecanicas Monclova and Administradora de Proyectos de Campos, and Colombia's Production Testing Services.

The Nejo and Monclova 15-year contracts total US$1.35bn in works and services.

Since 2003, PEP has signed seven works and services contracts for the Burgos basin. As a result, the country currently produces more than 160Mf3/d (4.53Mm3/d) of natural gas from Burgos, equivalent to 12% of the basin's output, the statement said.

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