The long-awaited energy reforms now underway in Mexico will dramatically change the playing field for Mexico’s oil and gas sector. By ending the upstream monopoly of state-owned Petróleos Mexicanos, the changes pave the way for a production increase to 3.7 MMbbl/d by 2040, according to the US Energy Information Agency. This projection constitutes a 75 percent higher increase than previously predicted.
As the Mexican government has taken on the task of designing a regulatory system, there are two primary goals: to set up a viable and sustainable internal structure for regulating E&P activity and to create an environment for investment that is appealing to potential investors. ABS has been on hand to share a wealth of regulatory knowledge as well as its experience in helping other countries manage through this process.
With 58 years of active experience in Mexico, ABS is uniquely qualified to contribute to this process. The preferred classification society in the country for decades, ABS has classed the majority of rigs working offshore Mexico.