Mexico Oil & Gas Review’s first 2018 Networking Cocktail took place last April 12 and was dedicated to “Developing Solutions for Mexico’s Offshore Challenges.” Featuring guest speaker Iván Sandrea, CEO of Sierra Oil & Gas, the cocktail was attended by more than 60 representatives from the leading companies doing business in the offshore industry in Mexico. The gathering was also an opportunity to coordinate the agendas of those invested in bringing a brighter future to the oil and gas industry and included representatives from companies such as PEMEX, PETRONAS, Weatherford, Statoil and Schlumberger. Here are the highlights of the evening.
The potential to further expand Mexico’s offshore industry is the hot topic for stakeholders today. Nobody can deny that 2018 will be crucial in drawing the lines that will determine the oil and gas industry’s future and its potential success to the eyes of national and international investors alike.
There is a great deal of challenges and opportunities to be taken into account for the country to meet these expectations and coordination among players in the industry is key to this quest. It is in that spirit that Mexico Oil & Gas Review dedicated its first cocktail of the year to discussing the challenges faced by the offshore industry.
The highlight of the night was the promising message sent by Iván Sandrea, CEO of Sierra Oil & Gas, to provide reassurances that the country is heading in the right direction and that despite the challenges present in the industry’s development, there are greater opportunities awaiting. During his speech, Sandrea mentioned that the three major challenges the industry is facing are the pressing need for a long-term view and commitment to Mexico’s local industry, the upcoming elections and the safeguarding of the industry’s integrity against security pitfalls.
More importantly, he emphasized on the opportunities the industry’s development presents to attract new clients, increase revenue distribution, bring higher quality services, standardize improvements and provide job security for a larger number of Mexicans. He finished his speech with a few numbers to measure the industry’s potential. According to Sandrea, only 25 percent of offshore and 29 percent of onshore contracts have been awarded so far, yet 63 wells have been committed with an expected US$3.8 billion in revenue for the country.
Mexico Oil & Gas Review thanks the event’s sponsor QMax for its participation.