Enrique Peña Nieto (EPN), former President of Mexico, promoted Energy Reform with the promise of reactivating oil production in a short time. His government made three Rounds signing several contracts, but few agreements have given results so far.
Andrés Manuel López Obrador (AMLO) gave a major oil and gas policy speech (in Campeche of course) where he set the goals for his presidency and suggested private investment might have a role, but only if it ‘behaved well’.
Pedro Joaquín Coldwell, Secretary of Energy (Sener), spoke about the oil rounds benefits in terms of production and reserves in the medium and long. Mexican authorities are optimistic about the oil sector, thanks to the new market players.
Pemex received the most attractive oil fields in the country in Round Zero, with the commitment to make several investments in these areas and take advantage of their potential. However, the NOC has not fulfilled the commitments and the firm will need a huge budget to invest in these blocks.
The election of Andres Manuel Lopez Obrador (AMLO) created much concern about the future of oil rounds in Mexico. The National Hydrocarbons Commission (CNH) talked about this situation and the auctions scheduled for next year.
The National Hydrocarbons Commission (CNH) has been planning a round of unconventional blocks in Mexico, with high expectations about the interest and results of this auction. However, the prequalification process has not had the interest expected from private companies.