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

NOIA Celebrates Passage of TWIC Workforce Bill in the House of Representatives

NOIA Celebrates Passage of TWI

Golden Software Releases Newest Version of Surfer Mapping Program

Golden Software Releases Newes

Verlume, SubCtech Team Up on Subsea Power Systems

Verlume, SubCtech Team Up on S

Saudi Export Disruptions Push Oil to Four-Month Highs

Saudi Export Disruptions Push

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine