In 2013 Mexico announced a plan that would become a complete game changer for the country. After about 75 years the country would end its monopoly on oil and gas production, potentially opening up some of the world’s biggest remaining untapped oil reserves to private companies. The move came with reforms, which are currently still being refined, forcing much debate on the bidding of offshore and onshore licenses as well as local content and policies.
These topics and much more were subjects of discussion recently at the National Content Congress in Mexico, where IHI E&C’s Regional Director, Karl Farrow, served as moderator.
Held in Mexico City, The National Content Congress serves to encourage sustainable practices and partnerships through senior level industry discussion, particularly on how to address critical subjects to ensure that organizations can comply with the new standards and manage local content requirements without increasing costs.
Additional topics of discussion included:
- Local content percentages: Understanding how organizations can comply with the new regulations, and how local content requirements will mature leading up to 2025
- Bridging the gap on human capital: Learning what resources are available along with the current blueprints aiming to develop STEM research
- International players: Learning how neighboring resource rich nations, such as Brazil and Argentina, have developed, launched and monitored their local content policies
- Investment opportunity: How operators can maximize opportunities and how the government can help facilitate
- Legal: From contracts to compliance percentages – key insights into what organizations need to reflect upon when entering the market
The panel consisted of an array of heavy hitters within the Mexican oil and gas industry including executives from: McDermott, the National Hydrocarbon Commission, PEMEX, Shell, Chevron and others.