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Gulf of Mexico

Oil & Gas

Exxon, Chevron clear to bid on Mexican shallow-water blocks

Mexico approved 19 companies and seven groups to bid on 14 shallow-water exploration blocks as the country prepares to allow private producers to drill in its waters for the first time since 1938. Exxon Mobil Corp., Chevron Corp., and Pacific Rubiales Energy Corp., were among the companies that Mexico’s oil regulator, known as CNH, cleared to develop an estimated 80,000 daily crude barrels in the Gulf of Mexico, Commissioner Juan Carlos Zepeda said in a live feed of the meeting. Some 34 companies applied to pre-qualify for the July 15 auction.

Americas

McDermott International wins Chevron Gulf of Mexico contract

McDermott International (MDR) have been awarded a "sizeable" contract to transport and install subsea umbilicals, manifolds, jumpers and flying leads for Chevron. The contract is to support the brownfield expansion of the Jack and St Malo fields in the US Gulf of Mexico. The value of the award is included in McDermott's first quarter 2015 backlog.

Oil & Gas

BP, Chevron and ConocoPhillips form alliance on Gulf of Mexico discoveries

Oil major Chevron has joined forces with BP and ConcoPhillips to explore and appraise 24 jointly-held leases in the Gulf of Mexico. The companies will combine their efforts on moving two Paleogene discoveries closer to development and provide expanded exploration into the emerging market. Under the agreement, BP will sell to Chevron half of its current equity interest in the Gila and Tiber fields.

Americas

Technip wins two Gulf of Mexico contracts

Technip has been awarded two subsea contracts in the Gulf of Mexico by Stone Energy. The flexible pipe supply contract and an installation contract are for the Amethyst field located at the Mississippi Canyon 26. The first contract includes engineering, procurement, fabrication, assembly and testing of a five-inch production static riser.

Americas

Hercules takes five rigs off the market

Hercules Offshore said it will be taking five drilling rigs off the market in the Gulf of Mexico. The company also expects to write off $117million in asset value in the second quarter of the year.