Page 6: of Offshore Engineer Magazine (Aug/Sep 2015)

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??For OE August 2015. Section: Undercurrents. Words: 492

PUBLISHING & MARKETING

OE Opinion

Chairman

Shaun Wymes [email protected]

President/Publisher

Undercurrents

Brion Palmer [email protected]

Associate Publisher

Neil Levett [email protected] All eyes on Mexico

EDITORIAL

Managing Editor

Audrey Leon s OE went to press this month, Mexico stands to receive 74% and 83% [email protected]

A

Mexico’s energy regulators and of the pro? t generated by the contracts

European Editor other of? cials were dealing with the for exploration and extraction, for blocks

Elaine Maslin [email protected] disappointing aftermath of Mexico’s 2 and 7, respectively. SENER also esti-

Senior Editor historic and highly anticipated Round mates that the two awarded areas could

Jeannie Stell

One offshore tender. Mexico had offered draw US$2.7 billion over the life of the [email protected] 14 blocks in shallow water areas off the contracts.

Web Editor

Melissa Sustaita coast of Veracruz and Tabasco. Just days While two blocks were awarded, that’s [email protected] leading up to the bidding round, held not to say that other companies didn’t

Contributors

Meg Chesshyre on 15 July, several companies with- try. Bids were rejected from consortia

Eugene Gerden drew from the process: Houston-based consisting of Murphy Oil and Malaysia’s

Greg Hale

Noble Energy, Glencore E&P, Colombia’s Petronas, as well as Italy’s Eni and

Editorial Assistant

Jerry Lee

Ecopetrol, Thailand’s PTTEP, and even partner CASA Exploration. Solo bids

Editorial Intern

Mexican national oil company Pemex. from India’s ONGC Videsh and Norway’s

Elia Barnett

Of the 14 blocks up for grabs, only two Statoil were dismissed for being too low.

ART AND PRODUCTION areas – Blocks 2 and 7 – were awarded, So where does Mexico go from here?

Bonnie James

Verzell James both to the Talos consortia made up Well, it’s time to start listening to the

CONFERENCES & EVENTS of Houston-based Talos Energy (45%, industry. While Mexican of? cials blamed

Events Coordinator operator), Mexico-based Sierra Oil & Gas the current low oil price environment for

Jennifer Granda (45%), and UK-based Premier Oil (10%). the failed Round One exercise, several [email protected]

Exhibition/Sponsorship Sales

Block 2 covers a total area of 194sq km concerns were raised prior to the round.

Gisset Capriles off Veracruz at 31m water depth with One concern was that the contract terms [email protected] expected recovery of dry gas and light and royalty rates were not attractive

PRINT oil. Block 7 covers a total area of 465sq enough. Another was that the quality of

Quad Graphics, West Allis, Wisconsin, USA km off the coast of Tabasco at 142m water the blocks on offer were also not attrac-

EDITORIAL ADVISORS

John Chianis,

Houston O