Regulator: Mexico's Pemex Will Tender For Partners In Seven Onshore Areas


MEXICO CITY, April 26 (Reuters) - Mexico's National Hydrocarbons Commission (CNH) said on Thursday that national oil company Pemex will tender for partners in seven onshore areas to form joint venture projects.

The CNH said that Pemex will have a 45 percent stake in the onshore areas scheduled to be tendered on Oct. 31.

Pemex has tempered expectations for the year after failing to find partners on its Ayin-Batsil shallow water development and the Nobilis-Maximino deepwater project, whose tender was canceled in December due to lack of interest.

By mid-year 2017, Pemex was considering 160 onshore and offshore areas for development. Now just seven more modest onshore projects are planned for such partnerships in the states of Veracruz, Chiapas and Tabasco, according to company statements.

The government of President Enrique Pena Nieto enacted a wide-ranging reform in 2013-2014 to encourage foreign investment and end the slide in oil output to multi-year lows.

The reform ended Pemex's 75-year monopoly over the energy sector, one of the key generators of revenue for the government.

Mexico has opened oil and gas exploration and production, as well as retail sale of fuel, to private investors.

(Reporting by Adriana Barrera Writing by Anthony Esposito Editing by Phil Berlowitz)


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.