Mexico’s Pemex wants to ensure as tight a safety environment as possible when it drills out on the Gulf of Mexico that is why they inked a pact with a company specializing in oil spill clean ups to boost its safety controls.
Wild Well Control, which was heavily involved in efforts to cap BP’s Deepwater Horizon disaster in 2010, will help Pemex comply with regulations put in place by the country’s oil watchdog the National Hydrocarbons Commision (CNH).
Wild Well Control is also working with Total in the North Shore attempting to plug that gas leak.
Pemex has limited experience in deep water drilling but estimates there are more than 29 billion barrels of crude equivalent, or 58 percent of the country’s prospective resources, in the Gulf.
The country needs to exploit that oil to boost government finances, which depend heavily on crude exports.
Oil output in the world’s No. 7 producer has fallen sharply from a 2004 peak of 3.4 million barrels per day (bpd) to stabilize at around 2.5 million bpd. A 2008 oil reform opened up the nationalized oil sector to more private investment, allowing Pemex to sign oil-field operating contracts in deep water with private companies.
The CNH fears Mexico on its own is not ready to take on ultra-deep projects like the Maximino well, planned for next year at around 10,000 feet (3,000 meters), six times deeper than Pemex has drilled before.