Slim invests US $2B in Veracruz oil field to help nudge Pemex to self-sufficiency

Carlos Slim signed a US $1.991 cardinal declaration to drill wells implicit the adjacent 3 years for Mexico’s state-owned lipid and state steadfast Petróleos Mexicanos (Pemex). 

Under the presumption of the statement signed connected Sept. 29, Slim’s Grupo Carso volition exploit up to 32 onshore wells successful the Ixachi tract successful the Gulf Coast authorities of Veracruz.

The Ixachi tract is considered to beryllium the astir important find successful much than a 4th of a period and is presently producing immoderate 715 cardinal cubic feet of state per day. (@dariocelise/on X)

This tract — described by the quality bureau Reuters arsenic 1 of the astir important finds successful much than a 4th of a period — is presently producing astir 93,000 barrels of lipid per time and 715 cardinal cubic feet of gas.

The paper El País reported that, to date, a full of 28 wells person been drilled successful Ixachi to an mean extent of 7,650 meters, with Grupo Carso participating done subsidiaries.

The statement reflects President Claudia Sheinbaum’s tendency to nudge Pemex — a nett vigor importer — toward self-sufficiency by seeking much backstage partnerships to enactment the world’s most-indebted vigor company. Pemex has a fiscal indebtedness of US $98 cardinal and owes suppliers much than US $20 billion.

Two months ago, Sheinbaum unveiled her 10-year strategical program for the lipid company. Private investors are expected to play a captious role, allowing Pemex to leverage associated task projects to summation the exploration and exploitation of hydrocarbons and earthy gas.

Echoing this strategy, Carso said successful a connection sent to the Mexican Stock Exchange (BMV) that the intent of the statement is “to lend to a important summation successful lipid and state production.”

According to the contract, Pemex volition marque 21 monthly payments for the drilling of these financed wells opening successful January 2027, provided 12 wells are successful production. If each 32 wells are producing by the extremity of 3 years, Carso tin gain the full US $1.991 billion.

The paper Milenio reported that “the root and outgo mechanics for the declaration volition beryllium done the gross obtained from marketable hydrocarbons from the allocation itself.”

With much than 18 years of acquisition successful onshore and offshore drilling, arsenic good arsenic level operation services, Grupo Carso boasts a highly qualified workforce.

Additionally, Carso has 19 onshore drilling rigs of assorted sizes and 3 offshore drilling rigs, including a level and 2 state-of-the-art semi-submersibles.

Slim and Pemex were successful talks astir Ixachi arsenic acold backmost arsenic March. At the time, the quality bureau Reuters reported that Talos México, successful which Slim is simply a bulk investor, was successful precocious discussions with Pemex and London-based Harbour Energy to jointly run Zama, a deepwater task successful the Gulf of Mexico.

Last year, Slim and Pemex agreed to make Mexico’s archetypal deepwater earthy state field, Lakach, which had been abandoned doubly earlier due to the fact that of precocious cost.

With reports from El País, El Financiero, Milenio and Reuters