Enrique Cornejo - UKTI
Transcript of Enrique Cornejo - UKTI
Mexico Oil and Gas Industry Overview
Subsea UK, Aberdeen March 2015 1 Oil and Gas Industry Overview - Mexico
Enrique Cornejo – Head of Energy and Environment, UKTI Mexico
Oil and Gas Industry Overview - Mexico 2
Sources: PWC, Doing Business in Mexico 2015
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Mexico’s Oil & Gas Resources
· 9th largest oil producer
· 18th largest gas producer
· 4th largest unconventional reserves
Sources: International Energy Agency, RigZone, Mexican Ministry of Economy
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• Investment from PEMEX alone is insufficient
• Unconventional plays make up the bulk of Mexico’s remaining reserves
Investment vs. Oil Production
Diagnosis of the Energy Sector, Mexican Presidency. Retrieved from Institutional Database of Petróleos Mexicanos, June 2013.
Oil and Gas Industry Overview - Mexico
Thou
sand
bar
rels
per d
ay
Investment in exploration and production
Petroleum production
Billi
on d
olla
rs
Data 2013: Average January – April in petroleum production
Mexican oil mix price for export (dollars per barrel)
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Oil Production in Mexico, Brazil and Colombia
(thousands of barrels per day)
PEMEX
Oil and Gas Industry Overview - Mexico
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A sizeable industry (pre-reform)
Oil and Gas Industry Overview - Mexico
• Strong O&G service sector
• Many international service companies consider Mexico a high priority market
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A sizeable industry (pre-reform) • Increasing number of native service companies looking for partners / in some
cases aiming to become operators
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Mexico’s Energy Infrastructure
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US/Mexico Oil & Gas Activity
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• Structural reforms, a result of the multi-party agreement “Pacto por Mexico”
• Energy Reform
• Round Zero and Round One – 2014/2015
Energy Reform: a new era for Energy production in Mexico
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Mexican Oil and Gas overview
SENER
• Ministry of Energy
CRE
• Energy Regulator Commission
CNH
• Hydrocarbons National Commission
State Productive enterprises
• CFE • PEMEX
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• Shallow Water
• Onshore
• Deep water
1P & 2P
• Fields already in exploration and production
Sources: SENER
Areas awarded to PEMEX in Round Zero
• PEMEX reserves place it in 5th amongst OIC’s.
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Sources: SENER
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Associations with PEMEX
(areas to migrate to contracts: 11 fields in 6 months and 11 for financing in Chicontepec and Burgos Area next year)
• Onshore and offshore mature fields
• Extra heavy oil marine fields
• Gas fields in deep water
• Perdido Area new discoveries
Sources: PEMEX
Opportunities with PEMEX in Round Zero
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Round One: Reserves and Prospective Resources
Oil and Gas Industry Overview - Mexico
Source: Ministry of Energy
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Oil and Gas Industry Overview - Mexico
Round One: What? Where?
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Round One bidders
Oil and Gas Industry Overview - Mexico
Source: Reforma
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Oil and Gas Industry Overview - Mexico
Source: PWC
Round One timeline
UKTI Mexico
• 32 professional advisors -
organised in sector teams
• Main office located in the British
Embassy in Mexico City, and 3
regional commercial offices:
Guadalajara, Monterrey and
Tijuana
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Source: PWC
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