Mexico offers a great potential for hydrocarbons in relatively immature basins and unexplored fields, especially offshore which require financial capabilities, human capital and advanced technologies to improve the profitability of new projects.

Mexico offers a great potential for hydrocarbons in relatively immature basins and unexplored fields, especially offshore which require financial capabilities, human capital and advanced technologies to improve the profitability of new projects.

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PETROLEUM CONTRACTS

Source: www.rondasmexico.gob.mx

Contracs for Offshore Sector

In 2014, Mexico’s National Hydrocarbons Commission began a competitive licensing program to assign oil and gas blocks rich in unexplored hydrocarbons. Since 2015, Mexico awarded 111 contracts for Exploration and Extraction of Hydrocarbons in the Gulf of Mexico, 32 shallow water and 28 deepwater. 54% of the blocks allocated in licensing rounds 1, 2 and 3 are offshore, located in the following basins: Cinturón Plegado Perdido, Cuenca Salina, Burgos, Tampico-Misantla, Veracruz, Cuencas del Sureste, Área Perdido and Cordilleras Mexicanas.

In the face of this new environment for the energy sector, petroleum production will continue to be a fundamental driver of Mexico’s economic development.

In the face of this new environment for the energy sector, petroleum production will continue to be a fundamental driver of Mexico’s economic development.

75 COMPANIES FROM 20 COUNTRIES

Awarded oil and gas contracts are attracting tier 1 investment into Mexico.

Companies Contracts

The rounds captured the interest of investors with different activity portfolios, and a range of financial, operational and technical capabilities as well as a risk-sharing approach to boost the country’s oil capacity.

However, there is a lot of work to be done and opportunities to explore. Mexico has most prolific offshore region in the Americas, and the same for onshore in Latin America. Thus, the collaboration between the state-owned company Petróleos Mexicanos (PEMEX) and national and international oil companies is vital to increase production and tax revenues which will ultimately contribute to the country’s economic growth.