Pemex crisis has affected the Mexican oil regions, but local companies are preparing to take advantage of the opportunities offered by the new exploration and production contracts signed in past oil rounds. The Secretary of Economic and Port Development of Veracruz (Sedecop) is playing a key role in this process.
Mexican authorities have awarded several infrastructure projects in recent years to solve the problem of a lack of infrastructure in the energy sector. The South Texas-Tuxpan pipeline project is positioned as one of the most important projects for the southern region of the country, but social problems are affecting its development.
The firm does not plan to renegotiate a 20-year contract to supply ethane to Pemex, but is open to discussing alternatives with the new government.
The firm signed a contract with Frances’s Total (NYSE:TOT) and Japan’s Mitsui and Tokyo Gas to work on the new liquefied Natural Gas (LNG) project.