BHP Billiton advances exploration and production in the Gulf of Mexico
Mining giant BHP Billiton has advanced its exploration and production interests in the Gulf of Mexico by establishing a contract with PEMEX Exploration & Production Mexico to complete work on the significant Trion discovery in Mexico.
In December 2016, BHP Billiton was successful in a bid on the resource that, once fully appraised, is expected to be in the top 10 fields discovered in the Gulf of Mexico in the last decade.
The agreement includes a commitment to deliver a Minimum Work Program, which consists of drilling one appraisal well, one exploration well and the acquisition of additional seismic data.
The signing ceremony took place earlier this month and was attended by President of Mexico, Enrique Peña Nieto, BHP Billiton CEO, Andrew Mackenzie, and Director General Pemex, José Antonio González Anaya, and was held at the Official Residence of the President in Mexico City.
BHP Billiton CEO, Andrew Mackenzie, said the partnership was an historic moment for Mexico and the beginning of a new chapter in business relations between BHP Billiton and Pemex.
“It is an honour to be the first foreign company to partner with the people of Mexico in developing their significant petroleum resources for mutual benefit,” Mr Mackenzie said.
President of Mexico Enrique Peña Nieto thanked BHP Billiton for believing and trusting in Mexico.
“I want to thank BHP Billiton for being Mexico’s partner in this journey that, I am certain, will yield greater development for our country,” Mr. Peña Nieto added.
Steve Pastor, BHP Billiton President Operations Petroleum, said the Trion agreement was consistent with the Company’s focused approach to conventional oil exploration and development of high quality deepwater oil prospects.
‘‘We have a long history as a top operator in the Gulf of Mexico and we are excited to bring our operational expertise to the partnership with Pemex,” Mr Pastor said.
Speaking on the agreement, PEMEX CEO José Antonio González Anaya said, “This agreement constitutes a parting of the waters in the history of PEMEX. For the first time, an area assigned during the Round Zero auction, will be progressed in partnership with a world leading company.”
Coal India Secures First-Of-Its-Kind Digital Deal
Coal India Limited (CIL) has appointed Accenture Solutions to digitally transform seven of its open-cast mines as the company strives to improve performance and increase coal production. Accenture is due to lay down digitalisation groundwork until March 2022.
The deal aims to increase coal production by 100 million tonnes (MT) by the end of FY’23. Once the minimum quantity has been surpassed, an agreed sum will be paid to the consultant for every additional sum of coal produced. This success fee will only be paid on the procurement of the minimum assured quantity.
The move will see heavy earth moving machinery (HEMM) fitted with digital sensors to monitor performance efficiency at all levels. Additionally, modern data analytic techniques aim to increase mine productivity and project monitoring through functional system management and effective observation.
An Exciting Venture For Global Mining
CIL, which aims to provide energy security in an environmentally and socially sustainable manner, hopes the move will help transform the entire business of mining operations and ensure higher volumes of coal are acquired at a lower cost.
“This is a first of its kind initiative by the company utilising digitalisation to ramp up coal output,” CIL has said.
A Digital Step Towards Enhanced Performance
Digitalisation is expected to take place at open-cast mines in Kusmunda, Gevra, Dipka of Southern Eastern Coalfields (SECL), Migahi, Jayant, Dudhichua, and Khadia of Northern Coalfields (NCL). Nearly 32% (188 MT) of CIL’s 596 MT output in FY’21 was accounted for by the seven selected mines. However, this new deal is set to see a large increase following the subsequent digital changes due to be made.
“Learning from the outcome and success of this model, we may replicate it in our other large mines,” says CIL, optimistic about the future following the modernisation of their mining.
It is expected that the move will help address roadblocks and guarantee corrective measures are put into place, ensuring the company is able to move forward with its aim of increasing output whilst remaining sustainable and eco-friendly.