In 2008, Mexico enacted some reforms to its hydrocarbons sector in an effort to turn around a decline in crude oil output. Despite the reforms, proven crude reserves dropped for the 12th year in a row last year. In an effort to encourage foreign involvement, Pemex will auction several oil field contracts this summer, with as many as 20 awarded by the end of next year. Will the contracts attract outside cash and technology, and will that be enough to increase Mexico's oil output? What structural changes at Pemex could improve the company's chances for increasing production? Experts discuss what they think about this topic.
Copyright © 2011, Inter-American Dialogue, used with permission from the publishers
Inter-American Dialogue's Latin American Energy Advisor. "Will Pemex Be Able to Reverse Declining Reserves?." (2011). http://digitalrepository.unm.edu/la_energy_dialog/172