Mexico: More wells for Chicontepec
More Chicontepec wells on table
Mexico's state oil company Pemex said it will seek bids from drilling contractors for a second package of 500 new development wells in the Chicontepec area in a push to boost crude production.
Pemex called for bids on Tuesday to drill 500 wells.
This new call brings the total to 1000 new wells to be drilled in the eastern part of the Chicontepec field, said a Reuters note.
Pemex said on Tuesday that the move is "unprecedented" because of the number of wells to be drilled, saying it is necessary to "increase the production of hydrocarbons" in a region that contains "17.7 billion barrels of crude oil equivalent," or 39% of Mexico's total petroleum reserves.
The deadline to acquire the bidding rules for the tender has been set for14 January while proposals will be accepted beginning 20 January.
The winning bidders will be announced on 19 February with the contracts to be signed on 20 March 20, from which time the companies will have 1187 days to execute and complete the work.
In its statement, Pemex said its goal "is to convert Chicontepec into a basin that can produce between 550,000 and 600,000 barrels of oil per day through 2021."
Pemex expects to award the two drilling contracts announced this week in March 2009