Energy Reform continues to produce results. Oil firms, which won contracts in round 1.3, announced investments for the next two years. The National Hydrocarbons Commission (CNH) approved their initial evaluation and development plans.
Grupo Techint’s president, Paolo Rocca said that the company is studying the possibility of venturing in the extraction and production of oil in Mexico’s mature fields, through its Tecpetrol oil company.
Wells drilled in Mexico reported an increase in 4Q16 compared to the quarter. But, comparing current data with previous years the figure is historically low, according to the Energy Information System of the Energy Secretary (Sener).
The Mexican hydrocarbon industry wants to grow but there is much competition. Some oil firms are interested in investing in Cuba as the country unveils its offshore and onshore hydrocarbons investment projects.
About 280 oil-company executives from around the world attended a meeting in Havana to know Cuba´s investment projects. The country has doubled its crude reserves according to recent studies.