Reform rollback threat raises alarms in Mexico

摘要

A Mexican oil sector that was feted as the next big thing after a 2013 energy reform has turned into a major worry for offshore contractors and upstream investors. Things do not look so bad at first glance. State-run Pemex ,has started halting a long decline in its own production, helped by a focus on 20 priority projects. The reforms, enacted by former Mexican president Enrique Pena Nieto, opened Mexico's oil sector to foreign investment and allowed international operators to bid on exploration blocks in the country's portion of the Gulf of Mexico. There have been some disappointments, such as Shell's recent Chibu and Max wildcats, but the diversification of operators and investments envisaged by the energy reform has brought results. Investors recently were encour- aged when Mexico's Secretariat of Energy (Sener) instructed Pemex to negotiate a unitisation agreement with Talos Energy to allow development of Zama, a highly promising shallow-water field.