London-based Blue Water Energy, Warburg Pincus LLC and the IFC are jointly providing funding to support Apex’s investment programme, including drilling, asset acquisitions and corporate transactions.
Taking place in the rectory of the university in Villahermosa, Mexico, both the university authorities and representatives from Penspen witnessed the signing.
The majority of foreign companies are not making any profit or losing money in their partnerships with PDVSA to develop and produce hydrocarbons.
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Russia also has the highest new build capital expenditure (Capex) of around US$78.8 billion for the 2018 - 2022 period.
Following Carlos Treviño’s, Pemex CEO, announcement of two new discoveries, Manik-101A and Mulach-1, in Mexico’s shallow water opposite Tabasco state,
The move follows the recent acquisition of the business by The Carlyle Group and marks the company’s transition to becoming an independent, global specialty chemicals leader.
The companies have announced that they have entered into an agreement under which IPC will acquire all of the shares of BlackPearl based upon a share exchange ratio of 0.22 shares of IPC for each BlackPearl share.
Svetlana Doh, Oil and Gas Analyst at GlobalData, offers her view on the impact on the upstream sector.