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Majors snub Pemex E&P contracts, say deals are not profitable.

Publication: The Oil Daily
Publication Date: 25-FEB-05 		Format: Online - approximately 394 words
Delivery: Immediate Online Access

Article Excerpt
Oil majors including Exxon Mobil, BP and Brazil's Petrobras will not bid for the multiple service contracts (MSC) to be offered by Mexican state oil company Pemex for deepwater oil exploration because they fear these regulated contracts would be unprofitable.

Under the MSCs, implemented to develop the Burgos Basin's gas reserves two year ago, foreign developers are paid...

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