EX-IM BANK BACKS TEXAS OIL AND GAS EXPORTS TO MEXICO, ALGERIA
More than 30 Texas-based companies are exporting $535 million of equipment and services for oil and gas field production enhancement projects in Mexico and Algeria. These exports, backed by long-term loan guarantees from the Export-Import Bank of the United States (Ex-Im Bank), represent a continuation of long-standing Ex-Im Bank support of U.S. exports to the Mexican and Algerian oil sectors.
Ex-Im Bank is pleased to support a wide range of Texas companies that are contributing to oil and gas production to fill the global demand for energy, said Ex-Im Bank Chairman John E. Robson. And our support is by no means limited to this sector — over the past five years, we have helped 854 Texas companies in 124 communities export $5.3 billion of goods and services.
Ex-Im Bank authorized a $130 million long-term guarantee to support the $145 million export by numerous Texas companies of drilling tools and other equipment and services to PEMEX (Petroleos Mexicanos) for the Burgos Basin gas development project in Mexico. Major exporters include M-I Drilling Fluids LLC, Houston, TX; Halliburton Energy Services, Houston, TX; Dowell Schlumberger, Sugar Land, TX; Tetra International, The Woodlands, TX; Weatherford, Inc., Houston, TX; Peerless Manufacturing, Dallas, TX; and Owen Oil Tools Inc., Fort Worth, TX. The guaranteed lender is Barclays Bank PLC, New York, NY.
Ex-Im Bank also approved a $300 million long-term guarantee to support the $335.3 million export by Kellogg Brown & Root Inc., Houston, TX, and other U.S. suppliers of equipment and services to PEMEX for the Cantarell Oil Field optimization project in the Bay of Campeche offshore Mexico. Major suppliers include Bechtel International, Houston, TX; Horizon LLC, Houston, TX; Halliburton Energy Services, Houston, TX; Pride Offshore, Houma, LA; Schlumberger Well Services, Sugar Land, TX; BJ Services, Houston, TX; and ABS Integrated Services, Houston, TX. The guaranteed lender is ABN AMRO Bank N.V., Chicago, IL.
In addition, Ex-Im Bank approved a $51.4 million long-term guarantee to support the $55.9 million export by Halliburton Energy Services, Houston, TX, and other U.S. suppliers of equipment and services to Sonatrach, the state oil company of Algeria, for an oil well workover/stimulation project at the Hassi Messaoud and Tin Fouye Tabankort oil fields. Major suppliers include Norton A. Proppants, Bryant, AK; Magnablend Inc., Waxahachie, TX; VOPAK, Mesquite, TX; Texas United Chemicals, Houston, TX; S&P Steel Products, Houston, TX; and Nalco/Exxon Energy, Sugar Land, TX. The guaranteed lender is Societe Generale, New York, NY.
Ex-Im Bank is an independent U.S. government agency that assists in financing the export of U.S. goods and services to markets around the world, through export credit insurance, loan guarantees, and direct loans. Ex-Im Bank helped to finance approximately $12.4 billion of U.S. exports worldwide in Fiscal Year 2001.