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Private Investment Rises as Block Winners Begin to Produce

Tue, 01/21/2020 - 23:40

Recent criticism of the Energy Reform has perhaps ignored the flow of investment that continues to pour into the country, approaching the US$2 billion mark, with private parties advancing in their exploration activities and national companies across the value chain being able to reestablish themselves. Production from privates has so far hit 94Mb/d of oil and 245.4Mmcf/d, with set to climb throughout the 2020. The blocks of the nine completed bidding rounds have been accompanied by more recent migrations as PEMEX has sought to deliver economic viability to some assets. If rounds are re-opened, these figures will only rise. The next year of Mexico’s oil and gas industry is certain to be full of action.