Pemex begins road show in Houston
21/01/2011 14:32
Pemex, the state company responsible for oil from Mexico, will start a promotional strategy to find companies interested in participating in the first incentive contracts for oil exploration and drilling in Mexico.
The presentation of the parastatal will start in Houston, United States, and then continue in Calgary, Canada.
The search begins outside the country because in the interior of the country there are no oil companies have the experience and technical capacity for deeper exploration.
With incentive contracts, Pemex tenders will start a program to boost exploration in many mature fields, including the Chicontepec and deepwater Gulf of Mexico, which is aimed at reversing a decline of almost 25% in domestic production oil between 2006 and 2009.
Firms that win the competition for contracts will receive a percentage of each barrel extracted, plus a cost recovery fee, with which the oil will remain the property of Pemex, which remains the seventh largest oil producer in the world and that brings a third of Mexican government revenues.
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