MOGS 2024: Streamlining the Sector, Tackling Challenges

PEMEX’s mounting debt and lack of clarity regarding its business strategies are hindering its image, limiting its access to financing opportunities. COPARMEX’s Carlos Hernández highlights the importance of collaboration with all stakeholders to ensure energy access to companies and users alike. In addition, Aggreko is optimizing Mexico’s oil and gas sector by utilizing vented gas and hybrid systems to reduce emissions and enhance operational efficiency.

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PEMEX's Financial Reality, Priorities and Opportunities

PEMEX has encountered significant financial challenges, grappling with high debt levels and ongoing financial commitments that have pushed its liabilities to the US$100 billion mark. Experts indicate that key factors for improving PEMEX's financial outlook include increasing government support and enhancing communication about its objectives and strategies in the Mexican market.

Clean Energy for All Mexicans

Mexico’s energy landscape faces significant challenges, including frequent blackouts as energy demand increases during the summer months. These outages not only disrupt daily life but also have a substantial economic impact, causing companies to lose up to 3.4% of their sales. In response to these pressing issues, Mexico’s Employer Confederation (COPARMEX) has launched a comprehensive proposal titled "Clean Energy for All Mexicans," aimed at ensuring reliable, sustainable, and cost-effective electricity for the entire nation.

Cost Optimization, Emissions Reduction: Sustainable Solutions

The oil and gas industry is at a pivotal point, as balancing the growing global demand for affordable energy with the imperative to reduce emissions is a complex challenge. Nicté Ovando, Business Developer, Aggreko, highlights how innovative strategies can optimize costs while reducing the environmental impact of oil and gas operations.

The Rise of ESG in Mexico's O&G Industry

Integrating ESG practices in Mexico's oil and gas industry is becoming increasingly essential as stakeholders demand more sustainable and responsible operations. However, the industry still faces challenges in effectively communicating its efforts. PEMEX serves as a key case study; although the company has placed sustainability at the core of its strategy, uncertainty regarding its budget and communication hinders the development of long-term projects and financing.

Opportunity, Risk, Financial Health of the Oil & Gas Supply Chain

The financial health of Mexico’s oil and gas supply chain has faced new challenges over the past few years. Four years after the pandemic, the industry is back on track. However, the reversal of the 2014 Energy Reform and PEMEX’s financial struggles now threaten the stability of suppliers. Market volatility, regulatory uncertainties, and the capital-intensive nature of the industry force players to weigh opportunities and risks carefully.

A Success Story of Growth in the International Oil & Gas Sector

Harbour Energy, founded in 2014 by private equity, has quickly established itself as a prominent player in the global oil and gas sector. Through strategic acquisitions and a robust growth strategy, Harbour Energy has built a diverse portfolio, expanded its international footprint, and achieved significant milestones, positioning itself as the largest UK oil and gas producer in 2023. 

Analysis of the Energy Agenda 2030-2050

Mexico is currently navigating a complex landscape of energy and political transitions, where private sector investments play a crucial role in accelerating energy development. To tackle the most pressing energy challenges, the Mexican Energy Council (COMENER) conducted an extensive study with approximately 30 experts, aiming to create a strategic vision for 2030-2050. The organization's goal is to consolidate recommendations for the government's upcoming term and players in the energy industry, focusing on sustainability, energy security, and accessibility, explains COMENER President Juan Acra. 

HR Strategies for the Mexican Oil and Gas Industry

Mexico's oil industry benefits from a robust workforce shaped by the sector's specialized nature, and significant progress has been made in cultivating a highly skilled local talent pool. Nonetheless, challenges remain in addressing generational, technological, and gender disparities. HR professionals are essential in navigating these challenges and ensuring the industry’s long-term success and sustainability.

Critical Success Factors for Production Optimization in 2024-2030

Mexico’s oil and gas industry is facing a different context than what was expected a decade ago. With PEMEX increasingly focusing on shallow waters, the development of new areas, including deepwater fields, now relies importantly on partnerships between the NOC and private operators. The pressure to increase production has also led the industry to develop new solutions for mature fields. 

Zama Project Update

The Zama field, one of the most significant oil discoveries in recent years, continues to shape the landscape of Mexico’s oil and gas future. Sylvain Petiteau, Vice President of the Zama Project, Harbour Energy, shares crucial updates on this groundbreaking development. The Zama field, which has been a first in many aspects for Mexico's oil and gas industry, is poised to become a cornerstone of the country's energy strategy.