Nomura cited a 30 January 2013 Upstream Online article, Emilio Lozoya Austin, a director of PEMEX, Mexico’s national oil company, as saying that the company is looking to acquire up to 12 modern independent leg cantilever jack-ups (JUs) and nine modular drilling units by 1Q15.
According to the article, Mr Lozoya Austin and other members of PEMEX senior management recently visited Keppel (Buy) and Sembcorp Marine (Buy) shipyards.
He also said that the new rigs will have a 20% local content requirement.
Here's more from Nomura:
PEMEX produced 2.564mn barrels per day (bpd) of crude oil
in December (down marginally from 2.577mn bpd in November) and is ranked
one of the top-10 oil companies worldwide.
As Mexico’s national oil company, PEMEX has witnessed a crude
production decline from a peak of 3.4mmbd in 2004. Under the new
management, PEMEX is looking to ramp up production aggressively.
Mexico-based offshore players have recently stepped up activity
and have been acquiring newbuilds. On 13 December 2012, Keppel
secured an order for two JUs from PEMEX Exploracion y Produccion,
a subsidiary of PEMEX.
This was preceded by Sembcorp Marine securing orders for two JUs
from Integradora de Servicios Petroleros Oro Negro (Oro Negro) on 7
December 2012.
Oro Negro has also bought over two newbuild JUs ordered by Jasper Investments which were under construction at Keppel FELS.
According to Upstream Online, Mexico’s National
Hydrocarbon Commission (CNH) has advised PEMEX to focus on shallow
waters where it has proven expertise and can increase production
profitably.
There are currently 31 JU rigs drilling in Mexico, out of which 22
rigs are more than 25 years are old. Only eight or 25% of the rigs are
five years old or less, according to ODS-Petrodata reports.
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