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Foster Wheeler Awarded EPC Contracts By Pemex For Coker Slide Valves At Cadereyta And Madero Refineries In Mexico
Foster Wheeler AG (Nasdaq:FWLT) announced today that subsidiaries of its Global Engineering and Construction Group, together with a joint venture partner for the project, Altair Strickland LLC, have been awarded contracts by Pemex Refinación (“Pemex”) for the engineering, design, procurement, construction, commissioning, and start-up of slide valve systems on the Foster Wheeler delayed coker units at two refineries in Mexico: the Hector R. Lara Sosa Refinery located in Cadereyta, Nueva Leon, and the Francisco I. Madero refinery in Ciudad Madero, Tamaulipas. Both projects are scheduled to be completed during refinery turnarounds in 2015.

date.png07 May 2014 10:45 | comments.png 0 Comments | tags.png engineering foster-wheeler mexico pemex refinery [ More ]

Seadrill secures contracts for multiple jack-up units in Mexico
We refer to Seadrill Limited's ("Seadrill") third quarter earnings report on November 25, 2013, which announced a Heads of Agreement between Pemex Exploracion y Produccion ("Pemex"), Mexico's national oil company and Seadrill. Seadrill is pleased to announce that the final drilling contracts for the jack-up drilling units West Oberon, West Intrepid, West Defender and West Courageous are now executed.

The fifth contract for the recently acquired jack-up drilling unit, Prospector 3, renamed West Titania, is being processed for approval by Pemex and finalization is expected to take place second quarter 2014.

Each contract is for a firm term of approximately 6 years and total revenue potential from the five contracts exceeds US$1.8 billion.

Additionally, Seadrill is pleased to announce the establishment of SeaMex Ltd. (SeaMex), a 50/50 Joint Venture with an investment fund controlled by Fintech Advisory Inc. ("Fintech"). Fintech is a private investment manager founded in 1989 that has a strong investment record and operation in Latin American countries. SeaMex has been formed for the purpose of owning and managing the jack-up drilling units working for Pemex as well as to develop and pursue further opportunities in Mexico and other Latin American countries. The gross proceeds for the sale of 50% of the five rigs to our partner is expected to be around US$488 million and will result in a gain recordable in the first half of 2014.

Per Wullf, Seadrill CEO commented, "This opportunity to expand our relationship with Pemex was partly developed on the back of Seadrill's successful operations with our ultra-deepwater semi-submersible West Pegasus in Mexico.

The long term nature of these contracts and the establishment of SeaMex, will create economies of scale in the region. Seadrill sees recent developments in Mexico such as new petroleum legislation, Pemex' expansion plans and recent large deepwater discoveries as supportive to the great opportunity to expand business within the country.
By using the Joint Venture to build up a strong local independent organization with close proximity to our customer, strong focus on education, and a high degree of local content, we expect to be able to create an efficient, high quality, and more cost effective organization. Over time, this will position Seadrill better than a centrally driven organization in what we see as a very attractive market. At the same time, a strong focus on localization benefits the Mexican labor market, the Mexican society, and our clients."

date.png20 Feb 2014 12:06 | comments.png 0 Comments | tags.png mexico n-america pemex seadrill services [ More ]

FMC Technologies Awarded $64 Million Contract From Pemex
FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed a three-year contract with Pemex Exploration and Production for the manufacture and supply of surface wellheads to support its drilling and well maintenance programs in the Gulf of Mexico. The award is expected to result in approximately $64 million in revenue to FMC Technologies if all of the equipment is ordered. The agreement provides assurance that at least 40 percent of the contractual value will be ordered by Pemex during the three-year call-off period.

date.png25 Jan 2014 08:46 | comments.png 0 Comments | tags.png fmc mexico n-america pemex services [ More ]

ICA Fluor Awarded Pemex Contract for Miguel Hidalgo Refinery in Mexico
Fluor Corporation (NYSE: FLR) announced today that its ICA Fluor industrial engineering-construction joint venture with Empresas ICA, S.A.B. de C.V. (BMV: ICA) (NYSE: ICA) was awarded an additional new $95 million contract by Pemex to develop the first phase of the overall project to reconfigure the Miguel Hidalgo Refinery, located in Tula, Hidalgo, Mexico. Fluor will book its $48 million share of the contract in the third quarter of 2013.

date.png26 Sep 2013 07:12 | comments.png 0 Comments | tags.png engineering fluor mexico n-america pemex refinery [ More ]

The proposed Phase I will Ramones border to Nuevo Leon Tamaulipas
Chihuahua Gas, a subsidiary of Pemex-Gas and Basic Petrochemicals, unveiled the results of the competition to provide the pipe for the construction of the 118 km pipeline of 48 inches from the first phase of The Ramones, which was awarded to Tubacero, a Mexican company.

date.png31 Aug 2013 10:44 | comments.png 0 Comments | tags.png mexico n-america pemex pipeline [ More ]

GE Signs $84 Million Agreement with PEMEX for Deepwater Exploration Projects in the Gulf of Mexico
GE Oil & Gas (NYSE: GE) has signed an $84 million agreement with PEMEX Exploration and Production to supply and to install subsea wellheads for PEMEX’s deepwater and ultra-deepwater drilling projects in the Gulf of Mexico. This marks GE’s largest agreement with PEMEX for the supply of subsea high capacity wellheads.

date.png07 Jun 2013 12:26 | comments.png 0 Comments | tags.png ge n-america pemex services usa [ More ]

Cal Dive Awarded Pemex Contract and Provides First Quarter 2013 Market Update
Cal Dive International, Inc. (NYSE:DVR) announced today that it has been awarded a contract by Pemex Exploración y Producción for the engineering, procurement, installation and commissioning of 12 kilometers of eight inch subsea pipeline and associated tie-ins on four existing platforms located in the Abkatun-Pol-Chuc Field in the Bay of Campeche. The contract is expected to generate total revenue of approximately $63 million and will utilize three of the Company’s vessels. The offshore construction is expected to commence in the third quarter 2013.

date.png28 Mar 2013 06:52 | comments.png 0 Comments | tags.png cal-dive mexico n-america pemex services [ More ]

Petrofac Awarded Deepwater Project Offshore Mexico
Petrofac’s Engineering & Consulting Services business (ECS), in partnership with Doris Engineering of Houston (Doris), has been awarded a project management contract by Petróleos Mexicanos (PEMEX) for specialised technical assistance and supervision for the construction, installation, commissioning, testing and start-up of deep-water subsea wells and infrastructure for the Lakach project. The scope will also involve drilling activities and tie-ins to existing onshore facilities. Initially involving around 25 engineers, based in Mexico and Houston, the project is scheduled to complete towards the end of 2015.

date.png13 Mar 2013 14:47 | comments.png 0 Comments | tags.png mexico n-america pemex petrofac services [ More ]

Ku-Maloob-Zaap in December reached its maximum oil production
The Ku-Maloob-Zaap (KMZ), in the Campeche Sound, held for the third consecutive year, its production platform of 850 thousand barrels per day, a volume that it established itself as the leading supplier of crude oil to our country.

date.png16 Feb 2013 11:10 | comments.png 0 Comments | tags.png mexico n-america pemex upstream [ More ]

Technip awarded contract for a refinery in Mexico
Technip, in a consortium with Construcciones Industriales Tapia, was awarded by Petróleos Mexicanos (PEMEX) through its subsidiary PEMEX Refinación, a contract for the revamp of one of the conversion unit of the Ing. Héctor R. Lara Sosa refinery, located in Cadereyta, Mexico. Technip’s share of the contract is worth approximately USD 40 million.

date.png13 Feb 2013 07:15 | comments.png 0 Comments | tags.png engineering mexico n-america pemex refinery technip [ More ]
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