Name: Mexico upstream summary
Brand: Wood Mackenzie
SKU: 17400
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Country Report 31 January 2025

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
            <p class="mega push--bottom store_landing__body">
                <div>
Pemex's Lakach project revived by a service contract with Group Carso: On 28 December 2021, Pemex announced the intention to reactivate the Lakach deepwater gas project. The original project was rejected by the regulator due to questionable economics. On 28 July, the NOC announced the partnership with US based company New Fortress Energy for the project development and a future investment for the development. However, in November 2023, New Fortress withdrew from the agreement, and Pemex ...</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        Executive summary
    </li>

<li class="list__item-toggle font-semibold">
        Key facts
    </li>

<li class="list__item-toggle font-semibold">
        Location maps
    </li>

<li class="list__item-toggle">
        <a href="#89e1a896-86d6-453c-9b7a-bab9dcf08623" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="89e1a896-86d6-453c-9b7a-bab9dcf08623" aria-expanded="false">
            Key companies
        </a>
        <ul id="89e1a896-86d6-453c-9b7a-bab9dcf08623" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Pemex
    </li>
    <li class="push-quarter--bottom">
        Key private and international companies
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#81c8b0c2-5095-4d7d-b9b9-7f788ad80133" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="81c8b0c2-5095-4d7d-b9b9-7f788ad80133" aria-expanded="false">
            Geology
        </a>
        <ul id="81c8b0c2-5095-4d7d-b9b9-7f788ad80133" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Introduction
    </li>
    <li class="push-quarter--bottom">
        Veracruz basin
            <ul id="fd02e62a-cd6a-4c76-97e5-956ffde96124" class="push-half--left">
                    <li class="push-quarter--bottom">
        Córdoba platform
    </li>
    <li class="push-quarter--bottom">
        Veracruz Tertiary basin
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Tampico-Misantla basin
            <ul id="9e0c1267-61b3-49e5-9cdb-ed215184f9fa" class="push-half--left">
                    <li class="push-quarter--bottom">
        Golden Lane Trend
    </li>
    <li class="push-quarter--bottom">
        Poza Rica Trend
    </li>
    <li class="push-quarter--bottom">
        Chicontepec (Proyecto Aceite Terciario del Golfo)
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Burgos basin
    </li>
    <li class="push-quarter--bottom">
        Sabinas basin
    </li>
    <li class="push-quarter--bottom">
        Franja de Fallas Extensionales
    </li>
    <li class="push-quarter--bottom">
        Sureste basin
            <ul id="aaeb77ff-dad3-4cf7-a959-77fc5b17659f" class="push-half--left">
                    <li class="push-quarter--bottom">
        Salina del Istmo sub-basin
    </li>
    <li class="push-quarter--bottom">
        Reforma-Comalcalco and Tabasco-Chiapas sub-basins
    </li>
    <li class="push-quarter--bottom">
        Macuspana sub-basin
    </li>
    <li class="push-quarter--bottom">
        Campeche sub-basin
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#a64eeb17-a762-4057-8182-ceece12ef5bf" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="a64eeb17-a762-4057-8182-ceece12ef5bf" aria-expanded="false">
            Exploration
        </a>
        <ul id="a64eeb17-a762-4057-8182-ceece12ef5bf" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Drilling
            <ul id="748984ff-6be4-4ce8-a14f-d474cc2b7404" class="push-half--left">
                    <li class="push-quarter--bottom">
        Drilling activity
    </li>
    <li class="push-quarter--bottom">
        Onshore and shallow water
    </li>
    <li class="push-quarter--bottom">
        Deepwater
    </li>
    <li class="push-quarter--bottom">
        Unconventional potential
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#04032e2a-02ab-4155-a0df-c3272f17236b" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="04032e2a-02ab-4155-a0df-c3272f17236b" aria-expanded="false">
            Reserves and resources
        </a>
        <ul id="04032e2a-02ab-4155-a0df-c3272f17236b" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Reserves
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#2f6bd0fd-078a-4a30-8191-2ced5581c806" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="2f6bd0fd-078a-4a30-8191-2ced5581c806" aria-expanded="false">
            Production
        </a>
        <ul id="2f6bd0fd-078a-4a30-8191-2ced5581c806" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Oil
            <ul id="3dd8dbd5-6d18-4d4e-a9f1-48f8aa2ddfe7" class="push-half--left">
                    <li class="push-quarter--bottom">
        Oil production started in the early 1900s
    </li>
    <li class="push-quarter--bottom">
        Nationalization and the establishment of Pemex
    </li>
    <li class="push-quarter--bottom">
        Cantarell and peak production
    </li>
    <li class="push-quarter--bottom">
        International Oil Companies production
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Gas
            <ul id="47a0750d-58c2-4d9d-bd10-3c4350580183" class="push-half--left">
                    <li class="push-quarter--bottom">
        Wellhead gas versus sales gas
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#667ad4b5-4bcc-483e-b76b-0ed6b3bda67e" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="667ad4b5-4bcc-483e-b76b-0ed6b3bda67e" aria-expanded="false">
            Infrastructure
        </a>
        <ul id="667ad4b5-4bcc-483e-b76b-0ed6b3bda67e" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Oil infrastructure
    </li>
    <li class="push-quarter--bottom">
        Refineries
    </li>
    <li class="push-quarter--bottom">
        Gas infrastructure
            <ul id="ea827108-8908-487b-ad90-32e6792219f0" class="push-half--left">
                    <li class="push-quarter--bottom">
        LNG terminals
    </li>
    <li class="push-quarter--bottom">
        Gas storage
    </li>
    <li class="push-quarter--bottom">
        Gas processing
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#dbd6853a-03f1-4961-9688-15eafdedf229" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="dbd6853a-03f1-4961-9688-15eafdedf229" aria-expanded="false">
            Policy and regulation
        </a>
        <ul id="dbd6853a-03f1-4961-9688-15eafdedf229" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Key legislation
            <ul id="009ed471-6cd3-4b47-9193-86de51f4a978" class="push-half--left">
                    <li class="push-quarter--bottom">
        Privatisation of midstream operations
    </li>
    <li class="push-quarter--bottom">
        The 2008 Energy Reform and launch of integrated service contracts
    </li>
    <li class="push-quarter--bottom">
        The 2013 Energy Reform and opening of the sector to foreign direct investment
    </li>
    <li class="push-quarter--bottom">
        Unitisation
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Regulatory body
    </li>
    <li class="push-quarter--bottom">
        State oil company
    </li>
    <li class="push-quarter--bottom">
        Pemex funding
            <ul id="b93ae373-c78f-42c7-a0cd-4f2b392a00ea" class="push-half--left">
                    <li class="push-quarter--bottom">
        PIDIREGAS
    </li>
    <li class="push-quarter--bottom">
        Pemex funding post-PIDIREGAS
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Licensing
    </li>
    <li class="push-quarter--bottom">
        Round One
            <ul id="bb9f8d30-4033-48a9-a91f-51695eb29fa1" class="push-half--left">
                    <li class="push-quarter--bottom">
        Shallow-water exploration phase
    </li>
    <li class="push-quarter--bottom">
        Shallow-water development phase
    </li>
    <li class="push-quarter--bottom">
        Onshore development phase
    </li>
    <li class="push-quarter--bottom">
        Deepwater exploration phase
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Round Two
            <ul id="1fa1764e-17f1-4e30-b126-1dedeef250ed" class="push-half--left">
                    <li class="push-quarter--bottom">
        Shallow-water exploration and DROs
    </li>
    <li class="push-quarter--bottom">
        Onshore licensing round on gas-prone acreage
    </li>
    <li class="push-quarter--bottom">
        Onshore exploration and DROs
    </li>
    <li class="push-quarter--bottom">
        Deepwater exploration acreage
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Joint ventures and farmouts
    </li>

<li class="list__item-toggle">
        <a href="#6550da6a-396a-4cc6-8cda-ec7725d898e6" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="6550da6a-396a-4cc6-8cda-ec7725d898e6" aria-expanded="false">
            Fiscal terms
        </a>
        <ul id="6550da6a-396a-4cc6-8cda-ec7725d898e6" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Overview
    </li>
    <li class="push-quarter--bottom">
        Current fiscal terms
    </li>
    <li class="push-quarter--bottom">
        Generally applicable terms
            <ul id="b34275f5-989d-4a23-a674-1d9a254f7345" class="push-half--left">
                    <li class="push-quarter--bottom">
        General royalty
    </li>
    <li class="push-quarter--bottom">
        Landholder Royalty
    </li>
    <li class="push-quarter--bottom">
        Corporate income tax
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Round One fiscal terms
    </li>
    <li class="push-quarter--bottom">
        Shallow-water exploration PSC
    </li>
    <li class="push-quarter--bottom">
        Shallow-water development PSC
    </li>
    <li class="push-quarter--bottom">
        Onshore licence regime
    </li>
    <li class="push-quarter--bottom">
        Deepwater licence regime
    </li>

</ul>

</div>
                <div class="col small-12 large-4 push--bottom">

<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
         <li class="list__item push-quarter--bottom">Key facts: Table 1</li><li class="list__item push-quarter--bottom">Location maps: Image 1</li><li class="list__item push-quarter--bottom">Reserves and contingent resources at 01/01/2025</li>
     </ul>
    <div>
        <button data-target="#a91e9905e55f4144aca817c809339322"
                class="btn-toc js-toggle-local"
                role="button"
                aria-controls="a91e9905e55f4144aca817c809339322"
                aria-expanded="false">
            View more tables and charts in this report
        </button>
        <ul class="list list--bullets panel-toggle" id="a91e9905e55f4144aca817c809339322">
            <li class="list__item push-quarter--bottom">Liquids and Gas Production 2021</li><li class="list__item push-quarter--bottom">Net Acreage 2025</li><li class="list__item push-quarter--bottom">Map of Pemex operating regions</li><li class="list__item push-quarter--bottom">Map of Mexico basins</li><li class="list__item push-quarter--bottom">Reserves and resources: Table 1</li><li class="list__item push-quarter--bottom">Reserves and resources: Table 2</li><li class="list__item push-quarter--bottom">Commercial Liquid Reserves by Sector</li><li class="list__item push-quarter--bottom">Gas Reserves by Sector</li><li class="list__item push-quarter--bottom">Reserves and resources: Table 3</li>
                <li>25 more item(s)...</li>
        </ul>
        
    </div>

</div>

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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Country Overview</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>19.66 MB</span>
</p>
</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Country Overview</p>
<p class="uppercase delta">
    <span>XLS</span>
    <span>1.05 MB</span>
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