with prices of oil and gas continuing to fall, exploration and production companies are looking for innovative ways to reduce operating expenses and increase efficiencies across their organizations
London, 09.02.2015 (PRWEB UK) 10 February 2015
In 2013 the Mexican government made the announcement that it would be opening its energy sector to international investment. In 2014 the Mexican foreign Investment Law (FIL) went under significant reform and for the first time in over 70 years it became possible to enter the Mexican energy market. Since the reforms in June 2014 when it was $115 a barrel oil prices have fallen by more than 40%, it is now below $70 a barrel. This significant drop in oil prices has resulted in the scaling back of investment in emerging markets globally and many feared that it would have a deep impact on Mexico's ability to attract investment into its rich hydrocarbon sector.
Both the Financial Times and the Wall Street Journal have reported this month that the highly anticipated Mexico bidding round scheduled for Q1 of 2015 will go ahead despite the dramatic drop in global oil prices. Mr. Juan Carlos Zepeda, Head of the National Hydrocarbons Commission in control of 'round one' of Mexico's recent energy reforms has suggested that the recent plummet in oil prices will not dramatically affect the shallow water phase of the bidding round 'because of the modest production costs, while a later phase involving more costly production in shale-rock formations will be trimmed back to offer only the most attactive od the so called unconventional resources'.
On 5th & 6th of March 2015 Oliver Kinross will be hosting the 2nd Mexico Oil & Gas Summit. This high level networking event will take place at the 5* Krystal Grand Reforma Uno Hotel in Mexico City. The event will feature presentations from senior level executives such as; Dr. Hector Marquez Solis, Head of Government Procurement for the Ministry of Economy, Carlos Huerta, Political Economy Advisory, Pemex, Dr. Ernesto Rios Patron who holds the position of Deputy Director of Project Development at Pemex as well as Kevin Karl, Senior Adviser to the Regional Director, BSEE Gulf of Mexico Outer Continental Shelf Region (GOMR) among many others.
Despite the recent downturn in global oil prices this remains a very exciting time for Mexico. The 2nd Mexico Oil & Gas Summit 2015 is a unique platform that gives private companies unprecedented networking opportunities with Mexico National Oil Corporation (PEMEX) and access to up-to-date presentations from the Mexican Government.
Gold sponsors for the Mexico Oil & Gas Summit 2015 will be FdL Global. FdL is an international company committed to sustainable development through innovative monitoring and evaluation, strategic communications and project management. FdL will be giving a presentation that looks at protecting People and the Environment throughout the anticipated rapid growth of the Mexican Hydrocarbon Industry. The Silver sponsor is WellAware. In a recent interview with Oliver Kinross, Matt Harrison, President & CEO of WellAware said that “with prices of oil and gas continuing to fall, exploration and production companies are looking for innovative ways to reduce operating expenses and increase efficiencies across their organizations” WellAware is a combined hardware and software company focused on delivering intelligence to the oilfield. WellAware will be leading a panel discussion at the event which will look at 'Turning Your Data Into Value'.
Notes to Editor
Oliver Kinross – http://www.oliver-kinross.com
Mexico Oil & Gas Summit 2015 – http://www.ogsmexico.com
Nasdaq - http://www.nasdaq.com/article/oil-majors-show-early-interest-in-mexico-bidding-round-20150120-00006
Financial Times - http://www.ft.com/cms/s/0/93c12e20-a0b7-11e4-9aee-00144feab7de.html#slide0
Biz Journals - http://www.bizjournals.com/sanantonio/news/2015/01/02/mexico-inaugurates-interocean-gas-pipeline.html?page=all
Wall Street Journal - http://www.wsj.com/articles/oil-majors-show-early-interest-in-mexico-bidding-round-1421769221
Economist - http://www.economist.com/blogs/economist-explains/2014/12/economist-explains-4
For further information please email e.mcdonaugh(at)oliverkinross(dot)com or call +44 207 0655 529