New Fortress Energy to complete Pemex’s Lakach gas field

The new energy of the fortress (NFE) signed agreements with the Mexican state oil company Petróleos Mexicanos (Pemex) to complete the development of the liquefaction project associated with Lakach gas field offshore mexico.

The agreements provide for a long-term strategic partnership to complete the development of the Lacac gas field in the Gulf of Mexico.

Within two years, “New Fortress” will complete seven offshore wells at the Lakach field.

NFE will also deploy the Sevan Driller’s 1.4 million tonne per annum (Mtpa) floating liquefied natural gas (FLNG) unit at the Lakach field to liquefy most of the natural gas production.

Under the agreements, NFE will also provide transition services to Pemex. NFE will deliver natural gas and condensate to Pemex in exchange for a fee for each production delivered.

New Fortress Energy said in a press statement: “Ganata is based on a contractual formula that resembles industry-standard gross profit sharing agreements between an extraction service provider (NFE) and a hydrocarbon owner (Pemex).

“NFE will produce natural gas from the Lakach field and will have the right to purchase at the contract rate sufficient volumes for its FLNG unit, while Pemex will sell the remaining natural gas volumes and all condensate produced to its onshore customers.”

After the discovery of the Lakach gas field in 2007, Pemex conducted exploration and development.

Despite this, Pemex suspended further development of the field due to the drop in oil prices in 2014.

Mexican President López Abrador said the completion of the development of the Lacac field was “a matter of national interest.”

Pemex CEO Octavio Romero Oropeza said: “We believe this partnership will enable Pemex to effectively utilize our domestic natural gas resources, meet Mexico’s security of supply goals and contribute to the development of gas energy infrastructure in the region.”

The area around the Lakach field, together with nearby fields, is estimated to have a total resource potential of 3.3 trillion cubic feet. New Fortress Energy to complete Pemex’s Lakach gas field

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