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Pemex’s success of exploration in deepwater in the last twelve months set a high international standard. Carlos Morales Gil, Director of Pemex Exploration and Production, puts it down to the company’s budget flexibility and patience to allow the expertise to develop in order to execute its deepwater programme. This is but one of several examples [...]

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One of the biggest conundrums that the Mexican oil industry poses for the expert analysts that follow it closely is the obligation that Pemex has to operate by itself. This has always presented an added challenge to all of the already existing technical and red tape obstacles that the company has to overcome on a [...]

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Between 2007 and 2010, Pemex spent around $1.8 billion USD on deepwater exploration, accounting for roughly 24% of the company’s total exploration investment during the period. Much of this money was spent on acquiring seismic data and drilling wildcat wells. As a result of its ramped up seismic acquisition programme, Pemex now collects [...]

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