ICA and Schlumberger win Pemex Chicontepec oil field contract.

South American Business Information, March, 2003

Mexico, Mar 17, 2003 (El Financiero/SABI via COMTEX)

ICA, Mexico's main engineering, procurement and construction company, in partnership with the global technology services company, Schlumberger, has gained from Pemex (Petroleos Mexicanos) the US$500mil contract for the development of the Chicontepec oil fields, whose reserves are estimated at 8bil barrels. The value of ICA shares increased by Pesos$0.36, to Pesos$1.93 following the announcement. Further increases in the value of the shares are expected if ICA is also successful in getting the contract for the El Cajon hydroelectric project. Schlumberger describes the contract as one which will strengthen its strategic alliances in Mexico. The company ha worked with Pemex is various projects since 1938....

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