Big names team up to bid in deepwater oil auctions

Chevron Corp. has joined forces with Petroleos Mexicanos (Pemex) and Japan’s Inpex Corp. to bid for the right to explore for oil and natural gas, the first time Pemex will partner with private companies to develop crude in the Gulf of Mexico.

Total SA joined forces with BP Plc and Norway’s Statoil in one group, and with Exxon Mobil Corp. in another. Eni SpA and Lukoil also joined up, and Anadarko Petroleum Corp. and Royal Dutch Shell Plc formed another group.

The Mexican government made a series of adjustments to sweeten the terms of the Joint Operating Agreement that Pemex will sign with potential partners to develop the Trion field. Pemex has pointed to partnerships as the road to its salvation since the government ended the company’s 76-year production monopoly in 2014.

Previous articleParker-Hannifin to buy Clarcor Inc.
Next articleDelek Refining to use Honeywell services
Heat Exchanger World is a leading international magazine covering all aspects of the product supply chain of heat exchangers. Heat Exchanger World is part of the KCI Group of Companies. We are a leading knowledge, communication and information company connecting business-to-business professionals by building and sustaining global communities, solving their information needs and helping them to develop their professional life and friendships.