Mexico's Calderon: BP's Deepwater Find A Wake Up Call

Mexico needs more reforms to rapidly tackle the deep waters of the Gulf of Mexico and shore up plummeting domestic oil production, President Felipe Calderon said Thursday. Calderon said BP PLC's giant deepwater oil discovery in the Tiber field, announced Wednesday, should serve as a wake up call for Mexico. State run Petroleos Mexicanos is legally blocked from teaming up with foreign oil companies that have more experience in the area."I hope this sign from the Gulf of Mexico tells us something," said Calderon in a radio interview.....Read complete article

Halliburton to Drill 170 Chicontepec Wells for $169MM

Oilfield services giant Halliburton Co. has won a $169 million contract to drill 170 wells Mexico's Chicontepec region, its first major project in the area, Petroleos Mexicanos said Thursday. Pemex, as the state oil company is known, has also awarded four contracts for about 140 wells each to local drillers, expanding its pool of suppliers for the expensive project. The new contracts underscore Pemex's efforts to accelerate spending and stabilize falling oil production, down by a fifth since peaking in 2004......Complete Story

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