November 23, 2017 / 11:54 PM / a year ago

Pemex stake in Nobilis-Maximino deep water tie-up to be cut

MEXICO CITY (Reuters) - The stake held by Mexican state oil firm Pemex in the potentially lucrative Nobilis-Maximino deep water tie-up near the U.S. maritime border will be cut from 49 percent to 40 percent, an official at the company said on Thursday.

Mexico’s oil regulator said it expects the first commercial barrels from Nobilis-Maximino to come by 2024, with peak output of 174,000 barrels of oil equivalent (boe) and 265 million cubic feet of natural gas per day coming online in 2026.

Cesar Fernandez, a legal official at Pemex, announced the change at meeting of Mexico’s CNH oil regulator.

Mexico expects to announce the partner for Pemex on the deep water area early next year.

Reporting by Adriana Barrera; Editing by Dave Graham

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