Close 

Pemex receives technical bids from Brazil, Mexico, Japan consortium for Cuervito block in Burgos basin

By OGJ editors

HOUSTON, October 22 -- Mexico's national oil and gas company Petróleos Mexicanos (Pemex) reported that a Brazilian-Mexican-Japanese consortium submitted a technical proposal Wednesday in response to its tender for development of the Cuervito block in the Burgos basin of northeastern Mexico.

The tender is the second bid of seven on separate blocks on offer under Mexico's Multiple Service Contract (MSC) program, for works related to development of nonassociated gas reserves in the basin; Repsol-YPF on Oct. 16 won a contract to develop the Reynosa-Monterrey block (OGJ Online, Oct. 21, 2003).

The Cuervito consortium is composed of Brazil's state oil company Petróleo Brasileiro SA (Petrobras), the Japanese company Teikoku Oil Co. Ltd., and the Mexican company D&S Petroleum.

The Cuervito block is 136 sq km in the state of Nuevo León that Pemex estimates will yield more than 100 wells over the life of the 15 year contract.

Under the MSC program, Pemex expects to increase its capacity to develop reserves in the Burgos basin, to increase nonassociated natural gas production in northern Mexico, reduce imports, and help meet the increasing demand for natural gas in the country.


To access this Article, go to:
http://www.ogj.com/content/ogj/en/articles/2003/10/pemex-receives-technical-bids-from-brazil-mexico-japan-consortium-for-cuervito-block-in-burgos-basin.html