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Pemex investment plan offers opportunities

Pemex investment plan for 2021-2025 includes 399 new exploration, extraction and production projects in shallow, deep waters and on land in the states of Tamaulipas, Veracruz, Tabasco and Campeche.

According to the United States Department of Commerce, this Pemex investment plan includes the improvement of 25 platforms, the installation of pipelines for the Trans-Isthmus Corridor (300 kilometers from Puerto Coatzacoalcos, Veracruz to Puerto Salina Cruz, Oaxaca) and eight interconnections to existing shallow water platforms in the Gulf of Mexico.

The Commerce Department noted that these major projects will create new opportunities for US suppliers of relevant equipment, technologies and services.

In particular, the opening of the upstream oil and gas market will provide opportunities to sell technology and services to private contractors and Pemex.

Pemex investment

These opportunities also include: modernizing six existing Pemex refineries, modernizing 77 Pemex storage facilities for crude oil, gasoline, diesel and lubricants, and modernizing more than 5,000 gasoline stations.

Pemex’s current tenders call for 25% local Mexican content when there is local production, increasing to 35% by the end of 2025.

When there is no local production, the local content requirement may not apply.

The Commerce Department encouraged US suppliers and investors to monitor progress and seek opportunities that may include joint ventures, production-sharing contracts, and/or concessions.

The equipment and services most in demand include: high pressure/high volume pumps; hydraulic submersible pumps; filter pots; Baur tube; auxiliary fuel tanks; seismic services; trenchers; plows tunnel boring machinery; mud mixing systems; sludge recycling systems; vacuum trucks; pile drills; operative separators; desalination equipment; and field collection lines.

In addition to crude oil and natural gas, Pemex markets a full range of refined products in Mexico, including liquefied petroleum gas, gasoline, jet fuel, diesel, fuel oil, asphalt, lubricants, and petrochemicals.

Furthermore, Pemex is one of the few major producers of crude oil in the world that experiences significant domestic demand for its refined products.

 

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