Gaspar Franco: Energy Panorama in Mexico, Challenges and Opportunities.

The constitutional articles that have been amended in this area have brought about reliable and secure management of hydrocarbon resources, reducing the technical, operational, and legal risks faced by stakeholders in this industry.

The emergence of entities such as state-owned enterprises, the opening to participation by national companies, as well as foreign investment, and effective regulations by government bodies guarantee the progress of a Mexico that strengthens a sector whose investment capacity had previously been limited.

The determination of contractual areas, bidding processes, allocations and transfers, the safeguarding of information gathered for hydrocarbon exploration and extraction, and its proper use are some of the achievements that have been sustained to provide regulatory certainty and a level playing field for the energy sector.

Challenges remain, but above all, opportunities are emerging that stimulate the potential of Mexican and foreign companies dedicated to the energy industry. Mexico is rich in hydrocarbon resources, and one of the areas of opportunity is the exploitation of naturally mature reservoirs. Their exploitation promotes the use of advanced recovery mechanisms.

Advanced recovery mechanisms encompass a wide range of activities, such as the implementation of specific techniques. The Chicontepec field is exemplary for these mechanisms. Its rich, diverse, and complex structure allows us to continually innovate the tools generally used for hydrocarbon exploration and extraction.

In particular, unconventional reservoirs also form part of the country’s prospective resources. These resources will significantly impact the contribution to a better energy supply, fostering local and national development. This requires advanced technical training, attracting diverse industries to the hydrocarbon value chain, advanced studies, human capital development, and other factors crucial for the energy sector.

Let us remember the challenge of deepwater exploration and its significant growth and the interest generated in bidding processes, which challenge us to continuous improvement. Given the need to explore and extract energy effectively using cutting-edge technology and optimize production processes, heavy and extra-heavy crude oils are also relevant, and are significantly abundant in Mexican territory. All of this motivates us to deepen our understanding of the reservoirs and modernize petroleum engineering. It allows us to contribute, hand in hand with leaders in the energy industry, to better management and extraction of hydrocarbons.

With a favorable outlook and of paramount importance to the national economy, fossil fuels will continue to be the primary source of energy for the coming years. The challenges and opportunities assure us that the energy industry in Mexico will remain a fundamental issue on the country’s public agenda, driving us with a sense of urgency to work toward and improve this situation.