New Fortress Energy Inc. and Petróleos Mexicanos (Pemex) agreed to form a long-term partnership that includes joint development of Lakach deepwater gas field off the coast of Veracruz in southeastern Mexico. The aim is to supply natural gas to Mexico’s onshore domestic market and for NFE to produce LNG for export to global markets, NFE said in a release July 5.
NFE will invest in the continued development of the field over a 2-year period by completing seven offshore wells, the company said. In addition, NFE will deploy to Lakach a 1.4 million tonne/year FLNG unit to liquefy the majority of the produced gas. Remaining gas and associated condensate are expected to be used by Pemex in Mexico’s onshore domestic market.
The companies expect the field—discovered by Pemex in 2007—to yield about 10 years of production. The field is one of the largest non-associated gas fields in the Gulf of Mexico with total original gas in place of 1.1 tcf, NFE said. Coupled with nearby undeveloped fields Kunah and Piklis, the area has a total resource potential of 3.3 tcf, it continued.
The agreement is subject to customary terms and conditions and finalization of related agreements.
