Exclusive: Mexico's Pemex, billionaire Slim renegotiate deepwater gas project

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Exclusive: Mexico's Pemex, billionaire Slim renegotiate deepwater gas project

//business-finance.news-articles.net/content/202 .. aire-slim-renegotiate-deepwater-gas-project.html

Published in Business and Finance on Friday, January 31st 2025 at 12:20 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Mexican billionaire investor Carlos Slim's team and state energy company Pemex are discussing substantial changes to a deal to develop the country's first deepwater natural gas field, five sources familiar with the matter told Reuters.

- Click to Lock Slider

Mexican state oil company Pemex and billionaire Carlos Slim's Grupo Carso are set to renegotiate terms for a deepwater natural gas project in the Gulf of Mexico, known as the Lakach field, due to its high costs and technical challenges. The project, initially discovered in 2006, has faced delays and cost overruns, leading to a need for a revised approach. Pemex's CEO, Octavio Romero, mentioned that the project's development would be reconsidered in 2025, with a focus on reducing costs and adapting to current market conditions. This renegotiation comes at a time when Pemex is under financial strain, with significant debt and a need to increase production efficiency. The collaboration with Grupo Carso, which has a 49.9% stake in the project, aims to leverage Slim's expertise in infrastructure to make the project viable.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/energy/mexicos-pemex-billionaire-slim-renegotiate-deepwater-gas-project-2025-01-31/ ]

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