Keppel Offshore & Marine (Keppel O&M) has strengthened its foothold in Mexico’s offshore and marine industry with the signing of an MOU (Memorandum of Understanding) with Pemex E&P (PEP) and P.M.I. Norteamérica (PMI), both subsidiaries of the Mexican state oil company.
The MOU is to jointly develop, own and operate a yard facility at the port of Altamira on the coast of the Gulf of Mexico, the first phase of which is to support the construction of six KFELS B class jackup drilling rigs for PEP.
The total yard development cost will be around US $400 million, with the first phase estimated at about $150 million.
The deal signifies a landmark partnership between Pemex and Keppel O&M, says the latter.
Emilio Lozoya, CEO of Pemex, said, “Mexico’s proven reserves of oil and gas at the start of 2013 is almost 14 Bboe and we believe that a significant number of shallow water and deepwater drilling rigs as well as FPSOs and FLNGs will be required to maximise production in the years to come,” he said.
Earlier this year Pemex outlined investment plans of US $25.3 billion for 2013, of which $20 billion was pencilled in for upstream activities.
The yard will not only service Pemex’s requirements but also independently pursue work from the private sector.
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