Mexico Aims To Rescue Pemex With Gov’t Help, Says Oropeza

Petróleos Mexicanos General Director Ing. Octavio Romero Oropeza. Source: Pemex

(Pemex, 15.Dec.2018) — The general director of Petróleos Mexicanos, Eng. Octavio Romero Oropeza, affirmed that with the help of the Government of Mexico, the most important company in the country will be rescued so that once again it will be the great lever of national development.

When presenting the new National Plan for Hydrocarbon Production, he affirmed that the country's energy security and sovereignty will be guaranteed, since this strategy aims to reach an average production of 2 million, 480 thousand barrels of crude oil per day by the end of this administration.

During the event led by the President of Mexico, Mr. Andrés Manuel López Obrador, at the Maritime Terminal of Pemex, Puerto Isla del Carmen, the general director of Petróleos Mexicanos affirmed that the goal is to incorporate approximately 1,500 million barrels per year, achieving a replacement factor of almost two; that is, renewal of what is produced and addition of almost the same amount to existing reserves.

“The problem is so critical that today we are exploiting the same amount of oil as 40 years ago: one million, 730 thousand barrels of oil per day,” said the CEO of Pemex, in an event attended by secretaries of Energy, Rocío Nahle García; Environment, Josefa González Ortiz Mena; Economy, Graciela Márquez Colín, and Public Function, Irma Eréndira Sandoval Ballesteros.

To reactivate the production in this new phase of Pemex, the company will focus on increasing activity in drilling and repairing wells in operation fields with 2P reserves; increase in the recovery factor of mature fields; reducing the decline of exploited fields, applying technology and the best practices of integrated reservoir management, and development of new fields discovered with the new exploration strategy in a timely manner.

Romero Oropeza reiterated to the President of Mexico that the company is ready to start this new stage. “In 2019 we will stabilize production with a rebound at the end of the year, and continue increasing it in the subsequent ones, "he explained.

In the presentation of the program, the general director pointed out that another of the main lines of action in the work plan is the systematic reduction of costs and risks, and for this Pemex specialists will develop two new contract models for this project.

For the marine infrastructure, he said, the proposed model is the integral contracting out of all infrastructure, which includes the marine platform to recover wells, their mooring, transport and installation, the contracting out of pipelines, and mooring them to the platform.

On the other hand, he added, the drilling of wells will be contracted out as turnkey, leaving the responsibility to the company or consortium for the delivery of the well on time and at the agreed upon cost. In addition, an incentive will be assured to whoever does the best work based on the indicators established in the contract. Pemex will be responsible for the engineering and supervision of the services.

The general director of Pemex said that on January 15, 2019 infrastructure contracts will be signed and those for well drilling on the 31st of the same month. Likewise, two contracts will be assigned for the construction of the marine production infrastructure.

The first, for seven marine production platforms and 114 km of pipelines, for oil and gas production. The second, for six marine production platforms and 62 km of pipelines, with the same objective.

“It is a source of satisfaction for us to see the strength of the national industry in this sector, since there is interest from eight Mexican consortiums and seven mixed consortiums with some foreign component, all with proven knowledge and experience in the field,” Romero Oropeza said.

He acknowledged that everything revealed in this plan will only be possible with the support and commitment of the oilmen, who are Pemex’s main asset, a company of Mexicans that will once again be a source of national pride.

The event was attended by the governors of Oaxaca, Alejandro Murat Hinojosa; Campeche, Alejandro Moreno Cárdenas and Tabasco, Arturo Núñez Jiménez, as well as the municipal president of Ciudad del Carmen, Óscar Román Rosas González. Businessmen from the national oil industry were also present.

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