EXPLORATION & DRILLING

The success of Mexico’s oil and gas licensing rounds since 2016 points to a simple truth: the Latin American country is soon going to need a lot of rigs to explore, drill and turn the promise of the nation’s reserves both on and offshore into a flow of real and profitable oil production. The resulting challenges are not to be underestimated, as the recovery in oil prices and profitability-related concerns are expected to press the country’s industry regarding both equipment and human resources availability. Thus, national industry will have to come together and bridge the learning gap faster to deliver quality results in a pinch.

Here, the business opportunities popping up for exploration and drilling companies in the wake of past and future licensing rounds are examined, as well as the needs of developers and the technological advances that are changing the face of the hydrocarbons industry.