Pemex Awards Monotower Platform to Stolt-Siphnos Consortium

The next step in Pemex's expansion program for hydrocarbon production in the Northern Region was taken with the award of a production platform to a consortium composed of the Norwegian Stolt Offshore and Siphnos, a Mexican project management firm.

The Bagre-C project includes engineering, procurement, fabrication and installation. The award for the platform Bagre "C" is valued at US$16 million. Stolt will provide Pemex its first Tarpon Guyed Monotower System, a patented monopode technology.

Bagre is one of the light-oil, marginal fields in the ancient reef known as the Golden Lane, an area which was the center of Mexican oil production in the 1930s. Under the leadership of regional director Alfredo Guzman, in Pemex's Northern Region there has been an aggressive program to identify prospective areas for development. Extensive 3-D seismic data shots have been taken that have identified extensions in Bagre and other fields.

Bagre, located in a water depth of 50m, is one of a half-dozen fields programmed for rejuvenation. One or two additional platforms will be tendered for the Bagre field. At present the field produces only 600 b/d, but Pemex engineers foresee a potential of 10-12,000 b/d within two or three years. The total rejuvenation program anticipates new production to reach 40,000 b/d.

Stolt and Siphnos won the bidding over Shaw Mexican Holdings and 3 others. "This is an example of a successful association of an international company that offers new technology and a Mexican company that brings specialized management expertise with Pemex contracts. We worked very hard on this project to give Pemex the best value," said Ricardo Silva, president of Siphnos. "The Stolt project is our third successful bidding strategy with international companies," he added.