Pemex sets the course for Mexican drilling

02/02/2004
Great interest among international companies is driving increased activity in Mexico's on and offshore basins. Mexican state oil company Petróleos Mexicanos will increase spending by only 9% this year, to $9.5 billion, funded in part by new debt issues on capital markets. Although this is the largest budget among state-owned companies, the increase is much less than others, such as Venezuela's PDVSA, which plans to increase spending by 129% in 2004, to about $6 billion.Pemex Exploración y Producción (PEP) has scheduled to release bid tenders for construction of 37 offshore platforms in the Gulf of Mexico in 2003-04, including 17 in the Ku-Maloob-Zaap (KMZ) fields co...
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