By OGJ editors
HOUSTON, Oct. 4 -- The Export-Import Bank has approved three long-term loan guarantees totaling $1 billion to support US exports of equipment and services to Petroleos Mexicanos for oil and gas exploration, development, and production in Mexico.
A $300 million loan guarantee will support exports for Mexico's Strategic Gas Program to help meet increasing gas demand in Mexico.
Another $300 million loan guarantee will support exports for a number of development projects in Cantarell oil field in the Bay of Campeche. Related to this project, the bank already has authorized transactions supporting development of Akal, Nohoch, Chac, Kutz, and Sihil fields.
And a $400 million loan guarantee will support US exports for the New Pidiregas projects, consisting of 23 exploration sites onshore and off the northern Yucatan Peninsula..