Pemex Awards Platform-Upgrade Contract to Diavaz

MEXICO CITY (Dow Jones Newswires), Aug. 5, 2009

Mexican state-owned oil monopoly Petroleos Mexicanos, or Pemex, said it awarded a $43.8 million contract to local company Constructora Subacuatica Diavaz to upgrade a production platform in the Gulf of Mexico.

Pemex said Tuesday the contract is for 137.6 million pesos and $33.3 million, with work to be carried out within nine months. Diavaz presented the best technical and economic bid for the contract, Pemex said.

The platform to be upgraded produced 24,500 barrels a day of crude oil in June.

Pemex is aiming to invest $20 billion this year in exploration and production as it seeks to contain a decline in crude output.

Pemex recently cut its 2009 crude production goal to 2.65 million barrels a day from 2.7 million barrels a day.

Production averaged 2.63 million barrels a day in the first half of the year, with June output at 2.52 million as maintenance on a floating production storage and offloading vessel shut in around 40,000 barrels a day.  

Copyright (c) 2009 Dow Jones & Company, Inc.

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