Background on Grupo Carso and its Relevance
Grupo Carso, led by Carlos Slim, is a prominent Mexican conglomerate with diverse interests in telecommunications, construction, and energy sectors. Carlos Slim Helú is one of the world’s wealthiest individuals, with a net worth exceeding $12 billion. His business empire includes Telmex, America Movil, and various other companies that have significantly shaped Mexico’s economic landscape.
Details of the Contract with Pemex
Petróleos Mexicanos (Pemex): Pemex is Mexico’s state-owned petroleum company, responsible for the exploration, production, and commercialization of hydrocarbons in Mexico. It is a crucial entity in the country’s energy sector, playing a significant role in Mexico’s economy and national development.
The Ixachi Field
The Ixachi field, owned by Pemex (AE-0032-6M-Joachín-02), is one of Mexico’s most important onshore oil fields. Currently, it produces around 93,000 barrels of oil and 715 million cubic feet of gas daily, totaling approximately 236,000 barrels of oil equivalent per day.
Contract Scope and Timeline
Grupo Carso signed a contract with Pemex for up to $1,991 million to drill 32 wells in the Ixachi field over three years. This investment is expected to substantially increase oil and gas production in the field.
- Pemex will start paying for the drilled wells monthly until January 2027.
- Payments will be made in 21 monthly installments for each well delivered, starting from the corresponding date.
- By January 2027, it is estimated that 12 wells will be in production under this contract.
The total contract amount is $1,991 million, including financing. If fewer wells are drilled, the amount will be adjusted proportionally while maintaining the same financing formula.
Grupo Carso’s Expertise
Grupo Carso, through its subsidiaries GSM BRONCO and MX DLTA NRG 1, has over 18 years of experience in land drilling, marine, and platform construction services. The company employs highly skilled personnel and owns 19 land drilling rigs of varying sizes and three marine drilling rigs, including two state-of-the-art semi-submersibles.
Grupo Carso’s subsidiaries have previously worked on significant projects such as the Quesqui and Ixachi fields, executing contracts with Pemex for which substantial balances remain unpaid for completed work.
Key Questions and Answers
- Who is Grupo Carso? Grupo Carso is a Mexican conglomerate led by Carlos Slim, with interests in telecommunications, construction, and energy sectors.
- What is Petróleos Mexicanos (Pemex)? Pemex is Mexico’s state-owned petroleum company responsible for hydrocarbon exploration, production, and commercialization.
- What is the Ixachi field? The Ixachi field is a significant onshore oil field owned by Pemex, currently producing around 236,000 barrels of oil equivalent per day.
- What does the contract entail? Grupo Carso will drill 32 wells in the Ixachi field over three years, with Pemex paying monthly until January 2027 for completed wells.
- Why is this contract important? The increased production from the Ixachi field will contribute to Mexico’s energy security and economic growth.
