Pemex to adjust terms for 2014 deepwater round

摘要

Oil reforms that the new Mexican government of President Enrique Pena Nieto is hammering out are generating cautious optimism among oil companies eager for access to the country’s highpotential acreage, particularly in the deep waters of the Gulf of Mexico. The reforms are critical to raising the number and quality of participants to state-owned Pemex’s bidding rounds for performance contracts that allow companies to produce oil for a flat fee with an incentive payment for additional output. Although many investors remain sceptical that the Pena Nieto administration can overcome the country’s constitutionally embedded resource nationalism in the near term, many are hopeful that the pendulum is beginning to shift (WPA, 26 October, p5).