Mexico’s oil reform a boon for hard
(Repeats Tuesday story with no changes to text)
By Marianna Parraga and Adriana Barrera
canada goose outlet store uk HOUSTON/MEXICO CITY, Jan 30 (Reuters) Oil service and mapping firms canada goose factory sale still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. canada goose outlet store uk
canada goose outlet canada Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75 year monopoly on the energy sector held by state run oil firm Pemex. canada goose outlet canada
The government of President Enrique Pena Nieto hopes the deepwater sale will attract tens of canadian goose jacket billions of dollars canada goose clearance sale of investment to turnaround a slump in the country’s oil output. Seven previous auctions drew investment pledges of $61 billion. waters nearby.
canada goose outlet Mexico has done little deepwater exploration, so not much is known about the energy reserves. canada goose outlet
canada goose factory outlet That has created strong demand for whatever data oil service and seismic firms can offer. Mexico has given survey companies all the information canada goose clearance it has in an effort to build appetite for the auctions. canada Canada Goose Jackets goose factory outlet
canada goose jacket outlet Companies including Schlumberger, France CGG SA, Ion Geophysical and Seitel Inc have spent $2 billion undertaking their own seismic surveys since 2015. They have also reprocessed Pemex old data on the region. canada goose jacket outlet
canada goose outlet nyc Schlumberger said it was committed to its customers in Mexico, but declined to elaborate on its business. The other three companies did not respond canada goose coats to requests for comment. canada goose outlet nyc
canada goose outlet shop Among companies bidding at Wednesday auction are China Offshore Oil Corp, ExxonMobil and Total SA. canada goose outlet shop
More data sales, which are tracked by Mexico energy regulator, are expected for further rounds and joint ventures this year as the country uk canada goose puts some 66 percent of its prospective oil reserves on the block.
goose outlet canada Some energy firms only pay for detailed canada goose black friday sale data packages after they win areas, Canada Goose sale two executives involved in exploration work in the Americas said. goose outlet canada
canada goose outlet new york Canada Goose Online city geological data business in Mexico has been good, not spectacular, but good, said a source at Schlumberger on condition of anonymity. canada goose outlet new york city
official canada goose outlet The seismic industry was hit hard by the crash in oil prices in 2014 and ensuing recession. International oil firms cut back on exploration, especially in areas considered expensive to develop such as deepwater. official canada goose outlet
Even with the Mexico data sales, the sector buy canada goose jacket cheap continues to canada goose uk shop struggle. Schlumberger this month announced the closure of its marine and land seismic acquisition business, two of four units at its WesternGeco subsidiary.
canada goose canada goose outlet outlet in usa PUSHING PEMEX In its efforts to break Pemex monopoly and attract international oil firms, the Mexican government has charted a more aggressive reform than others Latin American countries. canada goose outlet in usa
To encourage oil service and mapping firms to work quickly and extensively, the government gave them licenses for up to 12 years to sell data they collect.
the American side (of the Gulf of Mexico), there is a tonne of information. On buy canada goose jacket the Mexican side, very little. So they had to have a solution, a way to speed it up, Marcio Felix, canada goose coats on sale Brazil oil and gas secretary, said on Monday.
The Mexican regulator, the National Hydrocarbon Commission (CNH), opened all of Pemex data to seismic firms, licensing them to reprocess and sell it.
canada goose outlet uk canada goose outlet online In countries including Brazil and Venezuela, state run oil companies have kept most of their seismic data from rivals, giving them an advantage in areas where they are considered strong. canada goose outlet online
canada goose outlet uk has had to give canada goose store up a lot to make the reform work, said Luis Vierma, exploration and production consultant and former vice president of Canada Goose online Venezuela PDVSA. canada goose outlet uk
canada goose outlet uk sale The CNH has said the data, which includes information Canada Goose Parka from 30,000 oil and gas wells, belongs to the country, not Pemex. canada goose outlet uk sale
canada goose outlet toronto factory For Pena Nieto government, the stakes are high. Energy reform was one of its top economic priorities, and the administration wants to show http://www.canadagoosesalesus.com progress ahead of a presidential election in July. canada goose outlet toronto factory
Mexico faces stiff competition from other Latin American countries keen to attract investment from energy firms. Brazil, Ecuador, Uruguay and Argentina are set to auction oil and gas blocks this year.
canada goose outlet cheap canada goose uk jackets That has Mexico determined to make the auctions successful even if it means giving up Pemex secrets. canada goose outlet jackets
canada goose black cheap Canada Goose friday sale one player (Pemex) gains if the geological information is kept confidential, said Horacio Cuenca, a research director at consultancy Wood Mackenzie. whole country will benefit from opening up the data to secure equal access and accuracy canada goose black friday sale.