Faustino Monroy
President
AMGP
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View from the Top

Fostering the Potential of Tomorrow's Talent

Tue, 01/21/2020 - 12:19

Q: What are the main interests and objectives of the AMGP?

A: The AMGP is a nonprofit organization comprised of over 1,000 professionals, split between nine delegations situated in the oil hubs of the country. Most members are geologists, geophysicists and petroleum engineers. Although we have members from other backgrounds, including biologists and chemical engineers, most of our members work or worked for PEMEX or IMP. The association has two primary objectives. The first is to diffuse technical knowledge among members to support the national and international petroleum industry. The second is to promote the spirit of scientific investigation and professional development. In this sense, we foster relationships with research centers and associations within the industry both in Mexico and internationally, including with the American Association of Petroleum Geologists and the European Association of Geoscientists and Engineers. We have a relationship with Mexican universities, such as UNAM, IPN, Juárez Autonomous University of Tabasco and the Olmec University. The AMGP also has student chapters at UNAM and the IPN in Mexico City. As an association, we have a responsibility to look to the future generation of professionals in our industry and ensure that they understand we will support them.

Q: How can the administration best achieve its goal of increasing Mexico’s oil production to 2.6MMb/d by 2024?

A: Currently, Mexico has produced almost 60 billion boe. According to sources, including CNH, Mexico has approximately 112 billion boe in reserves, 47 percent of which is conventional resources. Mexico’s 3P reserves are around 25.5 billion boe, of which 24 percent is gas. Part of these resources cannot be accessed in these days. The exploration and production process is a long procedure, at the base of which is knowledge of geology and geophysics. Through PEMEX and other companies, members of the AMGP are working in different disciplines to increase both Mexico's reserves and oil production. They are the main professionals working also in the evaluation of potential resources. Of course, to achieve this goal it is necessary to develop a very good national exploration strategy, a diversified portfolio and adequate investment. Exploration is essential to the administration’s production goal: without further exploration, Mexico’s production will only decrease. Through financial investment and professional dedication, we must accelerate exploration to characterize the country’s potential oil fields and grow our reserves to exploit them.

Q: PEMEX’s portfolio consists of mature fields where reserve amounts are known and new or potential discoveries. Where should the company focus its activity?

A: The reality is that both types must be exploited. At mature fields, geophysical and geological studies, as well as petroleum engineering activities, should be carried out to increase recovery factor. Secondary recovery methods must be applied. On the other hand, using cutting-edge technology and the best international practices, we must evaluate new discoveries to certify their economic viability. If they are not viable today, they may become so at a later stage as technologies improve and become more affordable. The industry must also begin to explore unknown areas, or areas that have been drilled without solid knowledge. Pre-salt plays are an example of this and we must look to and learn from companies like Petrobras in Brazil that have drilled these plays with success. Geological expertise is vital in finding evidence of rock properties that give life to a hydrocarbon system. This exploration of unknown areas must also commence as soon as possible because fields can be taken between four and 10 years to be brought online.

 

The Mexican Association of Petroleum Geologists (AMGP), founded in 1949, is a scientific and technical organization composed of oil industry professionals that promotes petroleum geology.