Pemex budget cuts bite Cotemar, Prosafe

Published

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

Current News

SLB, Shell Form Alliance to Streamline Digital Oil and Gas Solutions

SLB, Shell Form Alliance to St

DEME Set for Monopiles, Cables Installation Job at Polish Offshore Wind Farm

DEME Set for Monopiles, Cables

Norway Gives Go-Ahead to Two Consortia in Floating Wind Tender

Norway Gives Go-Ahead to Two C

GE Vernova, Seatrium Ink TenneT Deal for 2.2GW North Sea Grid Link

GE Vernova, Seatrium Ink Tenne

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine