Approximately 40 oil and gas executives gathered at the Four Seasons Hotel in Mexico City on Thursday, Nov. 9, as Mexico Business Publishing held its third oil and gas networking cocktail of the year sponsored by geophysical information company Geokinetics.

Speaker Oscar Roldán, head of the National Center for Hydrocarbons Information (CNIH), praised the geophysical information branch for investing approximately US$2 billion in Mexico since the Energy Reform, and described it as a display of their faith in the growth of the country’s energy sector and willingness to assume risk.

As of Nov. 6 2017 28 authorizations for surface reconnaissance and exploration for realizing 2D and 3D acquisition studies as well as seismic reprocessing have been issued. The map shows the different levels of investment expected per region. (source CNH)

He also emphasized the great potential of PEMEX’s Ixachi-1 discovery, the largest onshore discovery in 15 years, saying that it could herald more extensive reserves in the foothills of Mexico’s western mountains along the coast of the Gulf of Mexico.

Roldán noted the institutional and legal stability of the Energy Reform. He said that the government should now prioritize the creation of an interinstitutional commission to simplify regulatory processes between regulators, the definition of the regulatory framework for environmental and social impact reports, and finding mechanisms to guarantee that local communities and Mexican citizens in general benefit from the Energy Reform, thereby assuring its long-term political viability.

The cocktail was attended by numerous high-ranking executives from the government, PEMEX, IOCs and the supply chain. Mexico Business Publishing thanks Geokinetics for its sponsorship of the event.

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