Oil, Gas and Consumable Fuels
Company Overview of Pemex Exploración y Producción
Pemex Exploracion y Produccion is engaged in oil and gas exploration and production services. The company is based in Mexico City, Mexico. Pemex Exploracion y Produccion operates as a subsidiary of Petroleos Mexicanos.
Marina Nacional No 329
Mexico, DF 11311
Key Executives for Pemex Exploración y Producción
Associate Managing Director of Finance - Petróleos Mexicanos
Compensation as of Fiscal Year 2013.
Pemex Exploración y Producción Key Developments
Pemex Exploración y Producción Invests in Declining Chuc Project Through 2017
Nov 12 13
Pemex's E&P unit PEP plans to invest MXN 81.5 billion ($6.16 billion) in the shallow water Chuc project through 2017 before production tapers off, a project evaluation from upstream regulator CNH shows. The Chuc project - also known as Abkatún-Pol-Chuc - is made up of 18 fields, of which 10 are currently productive, in shallow waters roughly 80km northeast of Ciudad del Carmen, Campeche state. Part of the development plan is to bring the remaining eight fields into commercial production. Chuc has performed well in 2013, increasing crude output to 236,000b/d in October compared to 194,000b/d in January. Crude in the Chuc basin ranges from 28 to 39-degree API. Gas production was also up to 443Mf3/d (12.5Mm3/d) in October compared 363Mf3/d in January. However, PEP is expecting production of both crude and gas to peak in 2014. Much of the future development will focus on advanced recovery techniques, including natural gas injection in wells at the Chuc and Abkatún fields. PEP plans to drill a total of 54 new development wells, some vertical and some sidetrack, reopen four exploration wells and perform 38 major well repairs at the Chuc project.
Keppel Offshore & Marine Signs MOU with Pemex Exploración y Producción and P.M.I. Norteamerica, S.A. De C.V
Oct 4 13
Keppel Offshore & Marine (Keppel O&M) has strengthened its foothold in the offshore and marine industry in Mexico with the signing of an MOU (Memorandum of Understanding) with PEMEX Exploracion y Produccion (PEP) and P.M.I. Norteamérica, S.A. de C.V. (PMI), both subsidiaries of Mexico's national oil company, Petroleos Mexicanos (PEMEX). The MOU is to jointly develop, own and operate a yard facility in Mexico, the first phase of which is to support the construction of six KFELS B class jackup drilling rigs for PEP. The MOU signifies a landmark partnership between PEMEX and Keppel O&M.
United States District Court Awards KBR $465 Million in Arbitration against Pemex Exploration and Production
Sep 26 13
KBR announced that the United States District Court Southern District of New York has entered a judgment for $465 million confirming the International Chamber of Commerce's arbitration award against Pemex Exploration and Production (PEP). This judgment consists of approximately $355 million for the original judgment plus interest and approximately $106 million for performance bonds plus interest. The amount of the value added tax has yet to be determined. PEP has 30 days to post security for the entire amount.
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