*Grupo Carso, the conglomerate owned by Mexican billionaire Carlos Slim, has signed a US$1.2bn contract with Mexico’s state-run oil company Pemex to explore and extract gas from the deepwater Lakach gas field in the Gulf of Mexico, according to a filing to Mexico’s stock exchange (BMV). Located around 98km southeast of the city of Veracruz, the Lakach field was discovered in 2007. In a statement cited by newswire Reuters, Grupo Carso stated it will build an onshore station to store and process the gas and condensates prior to sale. Commercial production is anticipated to begin in approximately two and a half years. This contract follows the collapse of a previous agreement between Pemex and US energy firm New Fortress Energy last year due to disagreements over terms. Grupo Carso’s involvement marks another step in Slim’s continued investment in Mexico’s energy sector, following recent acquisitions of stakes in other oil fields and US oil companies with projects in Mexico, such as Talos Energy and its Mexican subsidiary, Talos Mexico.
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LatinNews Daily - 08 July 2024
In brief: Mexico’s Grupo Carso partners with Pemex to develop gas field
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