BHP Billiton inks MOU with Pemex to exchange deep-water expertise

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BHP Billiton Image credit: flickr.com User: Jason Rhodes

BHP Billiton has announced that it has partnered up with Petroleos Mexicanos (Pemex) to collaborate on various projects and undertake numerous activities in the oil and gas industry.

BHP Billiton Image credit: flickr.com User: Jason Rhodes
BHP Billiton
Image credit: flickr.com User: Jason Rhodes

Under the terms of the Memorandum of Understanding (MOU), the two companies will exchange technical information and knowledge, experiences and practices and build a mutually beneficial long-term relationship, BHP revealed in a media release.

“We see considerable opportunity in Mexico following the recent economic reforms, and we are excited about the deep-water and the extension of the Paleogene play into the Perdido play. We are very pleased to have the opportunity to work with Pemex due to its exceptional capability and experience.  We are confident that we are one of the lowest cost and best drillers in the deep-water Gulf of Mexico. We have proven we can build projects better and faster than most operators, and our offshore facilities have some of the highest operational uptimes and safety records anywhere in the world. We look forward to sharing our technical knowledge and experience with our Mexican partners,” said BHP Billiton Petroleum and Potash President, Tim Cutt.

“Shenzi is an excellent example of what we can do and the deep capacity we possess within our offshore organisation. Shenzi continues to be one of the great success stories in the deep-water Gulf of Mexico – whether it’s time from discovery to first production, drilling costs, safety, uptime of approximately 95 per cent or sustaining production levels.”

BHP is ready to provide critical offshore capacity and has considerable design and development expertise from building the Shenzi and Neptune platforms in the Gulf of Mexico and the Pyrenees and Stybarrow FPSOs in Australia.

“What we can offer is absolute focus as Mexico seeks partners to help develop its enormous petroleum resources. Right now, our global offshore organisation is capable of moving with considerable speed, safety, agility, and flexibility,” said Mr Cutt.