Mexican Oil Regulator Approves First Onshore JV Projects

5/1/2017 E&P

energy- oil pumps 2Mexico’s first two onshore oil and gas projects to be developed by joint ventures (JV) between state-owned Pemex and new partners were approved by regulators on April 28.

The auctions to pick Pemex’s partners for the two extraction projects covering the Cardenas-Mora and Ogarrio fields, both located in southern Tabasco state, will take place on Oct. 4.

In both tie-ups, Pemex will have a 50% stake, while the partners will have the remaining half and will be designated as the operators of the projects.

Both projects feature existing infrastructure due to past Pemex work in the areas as well as ongoing production.

Cardenas-Mora features output of about 7,200 barrels per day (bbl/d) of crude oil, while Ogarrio produces about 6,600 bbl/d.

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