Pemex budget cuts bite Cotemar, Prosafe

OE Staff
Monday, March 7, 2016

Budget cuts by Mexican national oil company Pemex are having a knock-on impact in the Mexican Gulf of Mexico.

Mexico's Cotemar Group, which works for Pemex, has said it will suspend use of Norwegian accommodation vessel provider Prosafe's Safe Regency mid-March, and that the Safe Lancia will also likely be suspended mid-March. 

Both vessels are likely to be demobilized to a suitable lay-up location, said Prosafe, which had another three vessels working offshore Mexico, which have since lost work. 

The Safe Britannia is currently being demobilized out of Mexico and is available for charter, while the Jasminia and the Safe Hibernia are being prepared for cold-stacking in the US.

Prosafe says it and Cotemar continue to work proactively together to address the challenges being faced within Mexico and will be well placed to react when the market in Mexico recovers.

Read more

Pemex slashes budget

Categories: Vessels Gulf of Mexico

Related Stories

Heerema Completes Installation of First Hornsea 3 Offshore Converter Station

Reach Subsea Secures Equinor Contracts for Uncrewed Vessel Operations

Cadeler Raises Over $200M to Fund Fleet Expansion Plans

Current News

OceanAlpha Shares USV Offerings at Oi26

DroneQ Robotics, Mark Offshore Collaborate with R/V Mintis

OMV Petrom’s Black Sea Well Fails to Find Significant Gas Volumes

Eco Wave Power Completes Los Angeles Wave Energy Pilot with Shell

Subscribe for OE Digital E‑News