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Keppel and Pemex to invest $400m in Mexico yardKeppel and Pemex to invest $400m in Mexico yard

Keppel Offshore and Marine is to partner with Mexican national oil company Pemex to develop a $400m yard to build jack-up rigs.

Marcus Hand, Editor

October 7, 2013

1 Min Read
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The Singapore-yard group signed a memorandum of understanding with Pemex to develop, own and operate a yard in Mexico. Pemex and Keppel will form a joint venture to develop the yard to be located the Port of Altamira along the coast of the Gulf of Mexico.

A total of $400m will be invested in the yard, with an estimated $150m in the first phase.

The yard will initially build six jack-up rigs Pemex.

“By partnering with the world's leading rig builder Keppel, we are confident that the shipyard will be a success and help to provide a wide array of solutions for the production of oil and gas,” said Emilio Lozoya, ceo of Pemex.

“Mexico's proven reserves of oil and gas at the start of 2013 is almost 14 billion barrels of crude-oil equivalent and we believe that a significant number of shallow water and deepwater drilling rigs as well as FPSOs and FLNGs will be required to maximise production in the years to come."

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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