PEMEX Signs First Mixed Contracts

PEMEX has signed its first 11 mixed contracts with private partners under a new contractual framework created by Mexico’s latest energy reform, Mixed Developments, announced by President Claudia Sheinbaum during her first Sate of the Nation Address.

The contracts are part of an initial stage of PEMEX’s broader strategy to reverse declining oil and gas production and strengthen its financial position. The NOC expects to finalize a total of 21 mixed development agreements this year, which could add up to 450Mb/d of crude production at peak levels by 2033.

According to Sheinbaum, PEMEX is already advancing on a second group of allocations under the same scheme, with closures expected before the end of the year. The company is seeking to leverage partnerships with national and foreign firms to secure fresh investment and technical expertise while retaining operational control over strategic assets.

The mixed contract model was introduced following recent regulatory changes that allow PEMEX to pursue joint developments while maintaining majority stakes in key assets. The approach aligns with the federal government’s strategy to strengthen the company’s role in Mexico’s hydrocarbons sector and ensure energy sovereignty.