GEOLOGY & GEOPHYSICS

For operators to produce hydrocarbons, they first need to find them. This is where geology and geophysics service companies (G&G) come in, with highly-specialized technology and scientific expertise. CNH’s hydrocarbons data system shows that Mexico has 1P reserves of 8.483 billion boe, 2P reserves of 7.678 billion boe and 3P reserves of 9.304 billion boe. The same system shows that Mexico’s prospective resources amount to 112.8 billion boe, from which 52.6 billion boe are located in conventional plays and 60.2 in unconventional plays. Adding in the 67 Authorizations of Recognition and Surface Exploration (ARES) that CNH had granted as of July 2018 and the 21 G&G companies in place, there is no doubt Mexico is taking on a monumental effort to map its hydrocarbons plays and their locations using the best technology available. At some point Mexico’s oil and gas basins will be 100 percent covered by different types of seismic studies. Nevertheless, G&G companies will continue their contribution to the country’s oil and gas industry as operators need to keep finding better and cost-efficient ways to enhance production from mature fields or discover plays that were not visible before, be it due to technical or economic factors. Without a doubt, G&G companies are vital for the oil and gas industry worldwide.