Exxon, Total, Chevron in Talks With Pemex on Gulf

 

Petroleos Mexicanos is in talks with Exxon Mobil Corp., Total SA and Chevron Corp. as Mexico’s struggling state-run oil producer seeks partners to develop deepwater crude in the Gulf of Mexico.

 

Pemex seeks Areas of Mutual Interest agreements to evaluate whether the companies have opportunities to work together in offshore areas.

 

The talks would indicate the world’s oil majors are interested in partnering with Pemex to produce the country’s underdeveloped crude reserves or bid with Mexico’s state-owned operator in the country’s first-ever deep water auctions in December.

 

Exxon and Pemex are close to signing Areas of Mutual Interest agreements to evaluate if the companies see opportunities to develop, or bid to develop, oil areas in the Gulf of Mexico, according to two people with knowledge of the discussions. 

 

Oslo-based Statoil, which unsuccessfully bid to explore two Mexican blocks in an auction last year, is also in conversations with Pemex to sign an AMI, one person said.

 

Mexico hopes to raise $44 billion in investment in its first-ever sale of deepwater areas in the Gulf of Mexico, scheduled for Dec. 5. 

 

The country will auction 10 areas in the Perdido area near the maritime border with the U.S. and in the southern gulf’s Cuenca Salina.