Anadarko downbeat on Mexico onshore despite Texas oil success
MEXICO CITY Oct 8 (Reuters) - Anadarko Petroleum Corp , one of the largest oil and gas producers in the booming Eagle Ford shale formation in south Texas, does not for now plan to develop Mexican projects across the border, a company executive said on Wednesday.
Mexico recently enacted a sweeping energy overhaul that ended a 75-year monopoly of state-owned oil company Pemex and paves the way for private oil majors to compete for development rights both onshore and offshore.
"We're staying out of onshore" in Mexico, said Tim Tirlia, Anadarko's international exploration drilling manager.
Asked about his remarks shortly afterwards, Tirlia rowed back somewhat, saying Anadarko had ruled nothing out.
"We're still evaluating (onshore projects), but we're heavily focused on deep water opportunities here," he added.
Tirlia declined to comment on whether security concerns in northern Mexico, which is prone to lawlessness and where drug cartels have a strong presence, would make projects too costly.
In July, an executive with Lewis Energy, another top Eagle Ford producer that has operations in northern Mexico, said its costs are about 30 percent higher south of the border in part because of additional security needs.
Anadarko, an independent U.S.-based oil and gas company with operations in over a dozen countries, mostly operates offshore internationally, Tirlia said.
Mexico's first international public tender next year will include potentially lucrative deep water blocks in the Perdido Fold Belt in the Gulf of Mexico. Continuación...