Chevron-led Consortium Wins Mexico Deepwater Contract
December 05 2016 - 2:59PM
Business Wire
An international consortium operated by Chevron Corporation’s
(NYSE: CVX) subsidiary, Chevron Energía de Mexico, S de R.L. de
C.V., was awarded today an exploration contract for Block 3 in the
deepwater Gulf of Mexico, one of the most significant opportunities
in Mexico’s 1.4 bid round. Other partners in the bidding consortium
are Pemex Exploration and Production and INPEX Corporation.
The acquisition of the block marks Chevron first successful
entry into Mexico’s large prospective offshore opportunities.
“We are very pleased to be granted the responsibility to operate
this block, and honored to be an integral part of Mexico’s move to
open its oil industry,” said Ali Moshiri, president of Chevron
Africa and Latin America Exploration and Production. “With our
significant existing leasehold in the Gulf of Mexico, and global
deepwater expertise, we can now help fuel progress on both sides of
the border and beyond.”
Block 3, which spans approximately 651 square miles (1,687
square kilometers), is located in the Perdido Fold Belt,
approximately 45 miles (117 kilometers) offshore Mexico in water
depths ranging between 1,640 to 5,575 feet (500m to 1,700 meters).
Chevron will be the operator and hold a 33.3334 percent interest in
the block while Pemex and Inpex will each hold a 33.3333 percent
interest.
The Chevron-led consortium was the only bidding partnership that
included Mexico’s national oil company Pemex, demonstrating
Chevron’s ongoing commitment to Mexico and strategic partnership
with its national oil company.
Chevron Corporation is one of the world’s leading integrated
energy companies. Through its subsidiaries that conduct business
worldwide, the company’s is involved in virtually every facet of
the energy industry. Chevron explores for, produces and transports
crude oil and natural gas; refines, markets and distributes
transportation fuels and lubricants; manufactures and sells
petrochemical products; generates power and produces geothermal
energy; and develops technologies that enhance business value in
every aspect of the company’s operations. Chevron is based in San
Ramon, Calif. More information about Chevron is available at
www.chevron.com.
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