Pemex cancels new oil opportunities in deep water
The Business Plan that Pemex will present in the coming weeks cancels investments in the deep waters of the Gulf of Mexico to focus on shallow waters and on land, as well as the recovery of mature fields, all with its own investment. The exploration works in deep waters will be maintained to be ready in case they are required in the medium term.
Pemex recently left the development activities of fields in deep waters with the withdrawal of its last equipment for this purpose in the Gulf of Mexico.
The orders of the current administration are focused on recovering production in areas and technologies that are known by the company and the policy of alliances and associations is not going to be oriented towards finding new partners. The only window that you have at this moment is the one that is going to open next October, which is the only one that holds.
Pemex will evaluate the results obtained in projects such as Trión, which currently works in partnership with BHP, to define its future strategy in deep waters, which has been canceled for now.
The new administration works very hard to solve the problems of the recent past, however, it has been clear that there will be an important differential between what was done and what was left to do.
It is very important to maintain the current legal and regulatory framework in the area of hydrocarbons and, specifically, in the case of natural gas and petroleum, where much investment in storage is lacking.
There are important problems to solve, for example, having storage capacity for only one day when it is required to have at least four, that is an investment opportunity.