Term activity in Mexico reported slight progress as it reached 46% during May. This trend was driven mostly by a reduction of the number of vessels working in the country, two vessels departed Mexico including the ENAV Agave 3,700 dwt PSV. By the time of writing the vessel was mobilising to Central America. In overall, no major new projects commenced or concluded in the country therefore the utilisation reminded stable during May, 67 OSVs worked under term contracts, the same number as in April 2022. As mentioned in previous OMMs, it is anticipated that for the following quarters, utilisation will increase thanks to the commencement of new projects. For instance, PEMEX was cleared to drill the Popoca-1 exploration well with SeaMex jackup West Oberon and the Atoyatl-1 exploration well with SeaMex jackup West Defender. Drilling operations for the Popoca-1 exploration well are scheduled to begin on or about 16 June. The operator anticipates drilling of the well to take around 161 days plus about 60 days for completion operations. Water depth at the site is 31 m (102 ft). The West Oberon is committed to PEMEX until October 2025. As for the Atoyatl-1 Exp well, operations are expected to begin on or about 18 June. The operator anticipates drilling of the well to take around 46 days, 20 days for completion operations, and 6 days for abandonment work. Water depth at the site is 35 m (114 ft). West Defender is currently drilling the lyel-1 exploration well for PEMEX. The rig is committed to the Mexican operator until January 2026.
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