MADRID: Spanish engineering firm Grupo Profesional Planeacion y Proyectos, has signed a $12 million-plus deal with Mexico’s state oil firm Pemex to provide services for some of its offshore projects, according to the EFE agency.
The group, known as PYPSA, will consult on the use of less corrosive composite materials in platform construction for Pemex projects in the waters off both northern and southern Mexico. PYPSA is part of the international Spanish firm Carbures, which makes carbon fibre for aviation, automotive and infrastructure industries.
It is a 27-month contract. Pemex has been going through an austerity phase as it adjusts to low oil prices by cutting back on drilling rigs and renegotiating lease rates on rigs it is keeping. The target is to trim $4 billion from its 2015 budget.
