PEMEX invests in Uchukil to increase its production output. However, it faces uncertainty as the change in federal administration draws nearer.
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TotalEnergies returns a portion of its exploration area off the coast of Campeche, Mexico. The company was exploring Cuencas del Sureste and returned just over 485km2 of the 971.56 km² it was assigned.
More than 30 Mexican oil SMEs have reported they are at risk of bankruptcy due to large overdue payments from the Malaysian company Sapura Energy.
PEMEX announced plans to invest US$411 million in the Uchukil field located in the Gulf of Mexico. The field is estimated to contain around 359MMb of crude oil, which will help the NOC to boost its total output by 69Mb/d.
The current administration has showered PEMEX with attention, lightening its tax burden and providing financial injections, which motivated the attention of emerging market bond buyers. However, analysts estimate that the attention might not last once López Obrador leaves office.
The methodology focuses on setting the Technical Limit (TL) for oil and gas projects by considering the specific conditions of the well. It aims to identify both the Invisible Lost Time (ILT) resulting from operational performance and any inaccuracies in daily operation reports (DOR), as well as the program and well design.
The NOC is facing liquidity challenges, as reported by Moody's. These challenges are attributed to factors such as declining oil production, high debt levels, and limited access to external funding.