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Mexico is Opening Up its Petroleum Sector to Foreign Investors to Develop its Mature Fields and to Stem the Decline in Production
GlobalData, May 2011, Pages: 12
Mexico is Opening Up its Petroleum Sector to Foreign Investors to Develop its Mature Fields and to Stem the Decline in Production
Summary
In December 2010, the Supreme Court of Mexico announced that private investors will be allowed to bid for state-owned oil fields. With the lifting of a seven-decade ban on private investment, the number of oil fields operated by private companies in Mexico will increase by the end of 2012. The process of granting access to foreign oil companies will come in three phases. In the first phase, mature onshore fields will be offered; the second phase will allow access to shallow water Gulf of Mexico (GOM) followed by the third phase in which fields in the deep water GOM will be opened up to foreign investors. By 2012, private companies are expected to contribute up to 25,000 barrels per day (bbl/d) to the country’s total output.
Scope
- This report throws light on Mexico's strategy of developing its mature fields by opening up foreign investment
Reasons to buy
- This report speaks about why Mexico is opening up its oil and gas market to foreign investment and how it is planning to develop its mature field assets
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