PEMEX PLANS TO ATTRACT MORE BRITISH INVESTMENT
LONDON, United Kingdom, 24th March 2016.- Canning House organised the symposium to showcase the new opportunities that PEMEX offers to British investors, as a result of the so-called Round One which aim is to attract the investment of private capitals in the exploration and production areas.
The event organised by Canning House, the UK’s leading forum for comment, contacts and debate on Latin American politics, economy and business, had the participation of panellists from companies like PEMEX, Atalaya Group and UKTI, in order to clear questions and enquiries about the environmental legal framework, the current situation of energy industry and the role of the Mexican Regulatory Commission of Energy, among other topics.
The event opened with the participation of Baroness Jane Bonham-Carter of Yarnbury, Prime Minister David Cameron’s Trade Envoy for Mexico, who recalled that despite British firms already participate in Mexico’s oil and gas industry, there is a particular interest in the new contract schemes and also for equipment and service suppliers in specific projects.
Likewise, it was mentioned that PEMEX has increased the flexibility of its minimum work commitment requirements for companies interested towards oil production and exploration in Mexico, considering that the country’s energy demand is forecast to grow 4.1 per cent during the next 15 years representing a total of 66 Gigawatts of new capacity to serve its booming manufacturing sector.
It was highlighted the positive impression of the participants for PEMEX’s professional and transparent process during the first three phases of the so-called Round One, previous to the fourth phase, designed to allow the injection of international private capital into deep-water exploration projects.
The event was also useful to directly link entrepreneurs of both countries, as well as the main opportunities to companies looking to do business across Mexico.