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Latin America - events to watch 2014

Latin America - events to watch 2014

Report summary

Latin America's upstream sector continues to be a hotbed of activity. The eyes of the industry will be turned to energy reform in Mexico and the future of its energy policy. After a busy year of licensing in 2013, we expect 2014 to have limited licensing across the region, led by Colombia's round which will offer onshore, offshore, conventional and unconventional blocks. In Brazil, we will finally see a ramp-up in production, mostly from pre-salt developments.

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  • Energy reform in Mexico will continue full speed ahead
  • Production will finally ramp-up in Brazil
  • Licensing in the region will be limited
  • Regional elections will maintain the status quo
  • YPF will be key player in Argentine unconventional development
  • Colombia will finalise unconventional regulations, but hydraulic fracturing not expected in 2014
  • The Argentine government will expand incentives for E&P companies
  • Perupetro will provide solutions to the inefficient permitting process
  • Subdued drilling as companies prepare for the next exploration push
  • Pacific Rubiales will begin commercial-scale trials of its STAR technology
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