The Oil & Gas Year Mexico 2011
Since the nationalisation of Mexico’s energy industry under Petroleos Mexicanos (Pemex) in 1938, bureaucracy and monopolies have characterised the local oil and gas landscape. However, 2011 saw the beginnings of a programme of liberalisation that is likely to reshape the industry for decades to come.
Under a new leadership that has a fervent appetite for reform, Pemex saw the introduction of a new, flexible and more rewarding contracting regime that will make the national oil company a far more attractive customer for its local and international contractors. This has dovetailed with ambitious plans to redevelop mature onshore oilfields across the country, as well as the much-anticipated initiation of deepwater exploration and production scheduled for 2012.
Meanwhile, new investments in refining and petrochemicals capabilities by Pemex and private investors should revitalise the Mexican downstream sector for the first time since its heyday in 1980s. A renewed emphasis on natural gas production is seeing advances in Mexico’s nascent gas extraction and processing capabilities, as well as the introduction of a new generation of gas-fired power plants.
After six months of research in the field, The Oil & Gas Year Mexico 2011 explores the opportunities, issues and challenges faced by the country’s oil and gas community. A compendium of statistics, articles and interviews with some of the leading figures in the industry, the publication marks The Oil & Gas Year’s first foray into Mexico and paves the way for future investor operations in the country.