Big Guns Shoot For New ContractsJune 2012 | Industry News
BMI View: Mexican state-run oil company Pemex has announced the bidders in a new licensing round for private production contracts (PPCs). Some big guns are in the running including Chevron, Repsol and Schlumberger. If successful, further rounds could follow as Pemex seeks to boost foreign investment in order to stabilise production and export revenues. This could raise upside risks to our production forecasts which currently anticipate output of 2.94mn barrels a day (b/d) in 2012, falling to 2.71mn b/d by 2016.
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