Page 56: of Offshore Engineer Magazine (Mar/Apr 2017)

55 57

REGIONAL OVERVIEW

Latin AmericaLatin America

REGIONAL OVERVIEW

South American

Spotlight

Old and new provinces continue to bring forth new activity in Latin America, from new ? nds in Guyana to the ongoing pre-salt programs in Brazil. Michael

Borrel sets out the detail.

atin America has become increasingly attractive to both Eight of the 10 blocks were awarded to some of the larg- local and foreign investors. Mexico held its ? rst ever est oil and gas ? rms in the world, including BP, Chevron,

L offshore deepwater auction (Round 1.4), open to both CNOOC, ExxonMobil, Statoil and Total. Mexico’s Round local and international ? rms, in December 2016, which was Two auctions, which will include both onshore and offshore comprised of 10 blocks in both the Perdido and Salina Basins in blocks, will take place in summer 2017.

the Gulf of Mexico. Pemex, Mexico’s state-owned petroleum company, is set to

Number of active and future offshore projects and estimated CAPEX ($m) in select Latin American countries 60 $160,000 45 $120,000$120,000 30 $80,000$80,000

Estimated CAPEX ($Mn) 15 $40,000$40,000

Number of active and future projects 0 $0

Uruguay Argentina Brazil Colombia Guyana Mexico Trinidad Uruguay Argentina Brazil Colombia Guyana Mexico Trinidad Peru VenezuelaPeru Venezuela & Tobago # of Projects 1 59 2 2 31 2 11 1 8

CAPEX ($Mn) CAPEX ($Mn) $165 $145,430 $2,000 $2,300 $65,023 $630 $4,531 $1,000 $7,750

Source: EICDataStream

March 2017 | OE oedigital.com 60 060_OE0217_Geofocus2-EIC.indd 60 2/22/17 1:11 AM