Russian oil company linked to Putin is ready to extract oil in Mexico together with PEMEX

DEA Deutsche Erdoel, a German oil company closely linked to the Kremlin, is accelerating its processes to extract oil in the Gulf of Mexico. The first assessments of Block 7 of shallow waters confirm that this field has the capacity to produce 7,900 barrels of crude oil per day.

The presence of this company in the country generates resentment in the political circles of Washington because the central figures of DEA are John Browne, a legend of the oil world who led the largest expansion of British Petroleum, and Mikhail Fridman, a Russian oligarch of direct access to President Putin. 

These days, DEA is analyzing a merger with the German company Wintershall, which is one of the main gas producers in that country. The plans for the merger have already been approved by the European Union. To move forward must still be approved by the government of Andrés Manuel López Obrador.

We must remember that DEA got Block 7 in partnership with Talos Energey and Premier Oil, in Round One of the Energy Reform of the previous six years. It expects to begin production in the year 2022. It also participates in the field of Ogarrio in partnership with Pemex.

The story of John Browne is exciting. Under his leadership BP had the greatest expansion in its history. At the beginning of this century he planned and made an alliance with the Russian TNK to refine oil in the largest country in the world. There, where any Westerner has a hard time earning money because of excessive state regulation, Browne was the exception and he also achieved it in an extremely sensitive business for Russia’s geopolitics, such as oil.

The landing in Russia of Browne and BP was in line with Mikhail Fridman, Russian tycoon and close ties in the Kremlin of Vladimir Putin. And as often happens with the oligarchs of that country, he divides his time between Moscow and London. That friendship continued after the departure of Browne, and crystallized in the creation of the investment fund Letter One, which has its  headquarter in Luxembourg.

In 2015, Letter One (better known in the stock market as L1) bought the majority stake in DEA. When choosing CEO, Fridman did not hesitate and called his friend Browne. The energy reform of Enrique Peña Nieto was an invitation not to waste, and so DEA and Lord Browne arrived in Mexico.

Source: guruchuirer

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