USD 80.5268

-0.16

EUR 93.3684

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Brent 66.42

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Natural gas 2.801

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126

Pemex Is Ready To Work

Pemex is seeking bids for multiple service contracts

Pemex Is Ready To Work

Mexican state-run oil monopoly Petroleos Mexicanos opened its second round of natural gas production contracts to bidding, starting with two blocks of reserves in the Burgos basin.

Pemex is seeking bids for multiple service contracts to develop Pandura-Anahuac and Ricos, which combined are expected to generate investment of US$1.85 billion to produce 325 million cubic feet a day of natural gas by 2007.

Two other blocks included in the second round, Pirineo and Monclova, will be tendered Aug. 17. Those blocks are expected to involve combined investment of US$900 million to produce 140 million cubic feet a day.

The 15-year contracts are expected to be awarded in October and November.

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