Investments made in the 106 contracts between private operators and Petróleos Mexicanos (Pemex), awarded in the bidding rounds carried out during the last six years, rebounded at the end of 2023, after a year of declining.
Investments registered by private oil companies and migrations of Pemex in hydrocarbon exploration and production contracts in Mexico as of December 2023 closed with a total of 15,126 billion dollars, informed the National Hydrocarbons Commission (CNH).
According to the regulator's report, private and national oil company investments increased in pace from one month to the next.
Investments exercised in exploration and extraction contracts, which add up to private and Pemex, increased 0.20% in the last month of the year compared to what was registered in November. The pace at which investments in exploration and production are executed in the blocks that were tendered in the previous six-year term had slowed down in 2022, due to the fact that there have been no new bidding rounds; however, the trend was reversed in 2023, so there are high expectations regarding what is coming this year for exploration and drilling.
