Shell – A potential new deal in the Gulf of Mexico
Mexico’s energy service will shortly open up the ample oil and gas lying beneath its deep waters of the Gulf of Mexico. Only little worldwide companies are better positioned to grab the opportunity than Shell. That is because of the business the company has been doing in Mexico through its 20-year partnership with Pemex, Mexico’s national oil company.
Basically, since 2010, Shell has been extracting oil from the Gulf’s Perdido Fold Belt, nearly 9,000 feet beneath the sea and extremely near Mexico’s boundary waters.
Today the company wants to start pumping oil and gas from these new fields in the deep water Gulf of Mexico that could represent its major startup in the region this year as the development is expected to produce up to 50,000 barrels of oil equivalent per day.
Pemex has uncovered oil in the past two years on Mexico’s side of Perdido, which the company has appraised could hold as much as 10 billion barrels of crude oil. The company’s representatives have said they are interested in joint ventures to develop deep-water projects in the area.
Shell partnership opportunity with Permex could be the company’s major production startup in the Gulf of Mexico in 2014 while the company keeps it fabrication at its Mars B development.
Joining on the projects with Pemex, and perhaps with other Mexican companies, seams to be one of the major objectives of many oil company’s executives lately.
While Shell might be attracted by other opportunities, such as onshore mature fields near the Rio Grande, the company evidently has assets and understanding in the deep water from their operations in the U.S. part of the Gulf of Mexico and elsewhere.
Finally, both Chevron and BP also have shares in other deep-water projects in the Gulf, including in or near the Perdido belt and should not be excluded as potential candidates.