Seeking bids: Mexico looking for drillers
Mexico seeks bids for Chicontepec
Mexico's state oil company Pemex said it will seek bids from drilling contractors for 500 new development wells in the Chicontepec area, which Pemex is banking on to replacing dwindling output from other fields.
Mexico produces approximately 35,000 bpd at Chicontepec.
Pemex, seeking to boost output from the area to 550,000 bpd or more by 2021 plans to drill 15,000 wells over the next 15 years in Chicontepec, said a Reuters report.
Analysts have questioned the viability of those plans, noting the fields were discovered decades ago but never placed into production due to the technical challenges.
Pemex expects to award the drilling contract in March 2009.