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

Hollandse Kust West Beta Export Cables to Come Ashore Next Week

Into the Deep: Offshore Production Increasingly Finds Deeper Waters

CMM Secures Funding to Facilitate Construction of Ethanol-Powered PSV Fleet

Current News

Pertamina and ExxonMobil Plan Appraisal Drilling in Carbon Capture Effort

STARS: The Missing Link in Deep Sea Mining Supply Chain

Orbital Marine and GEG Ink Tidal Energy Preferred Supplier Agreement

Føn Energy Services and C-Ventus Enter Offshore Wind Merger

Subscribe for OE Digital E‑News