Related Articles
Andres Manuel Lopez Obrador, Mexico's president, faces an uphill battle in meeting production targets set in 2018
Opinion
Forward article link
Share PDF with colleagues

Letter from South America: Mexico plays catch-up

The country’s upstream strategy seems at odds with reality and will require an about-turn if there is any hope of meeting its production targets

Mexico is having an existential moment as an oil-producing nation. In 2018, President Andres Lopez Obrador announced an ambitious goal to boost oil production to 2.4mn bl/d and gas output to 6.6bn ft³/d (187mn m³/d) by 2024. This led to the identification of around 20 small and medium-size “priority fields” operated by NOC Pemex to help inject additional supply. But this campaign has suffered setbacks, with field development plans running behind schedule and volumes not deemed large enough to sustain output for long. Mexico’s oil production has continued to decline over the past six years, dropping from 2.52mn bl/d in 2013 to 1.68mn bl/d in 2019. And the country has only maintained similar

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
US renewables sector faces near-term challenges
26 January 2022
Supply-chain issues and rising costs present short-term difficulties for sector poised for rapid growth
INOC sets the stage for oil uptick
26 January 2022
Control for Iraq’s new NOC of one of the country’s biggest oil assets may just be a first step in Baghdad’s strategy
TotalEnergies quits Myanmar
25 January 2022
The French major is transferring its stake in the Yadana gas field to its partners
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video