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Pemex gears up for exploration push after Round Zero

Seismic acquisition and well-drilling have slumped in Mexico this year – but that is all part of the plan, claims President Enrique Peña Nieto Seismic acquisition and well-drilling have slumped in Mexico this year – but that is all part of the plan, claims President Enrique Peña Nieto.
By Chris Noon 3 September 2014 0 13311
Mexican President Enrique Peña Nieto has announced major new investment to boost gas production. (PA)

Mexico is on the brink of an exploration push, with the country set to boost E&P investments now that Round Zero – which allowed state-run Pemex to cherry-pick acreage ahead of formal competitive bid rounds in 2015 – has concluded. 

Exploration has slumped over the past year. Although Pemex acquired 883,700 hectares of 3D seismic between 1 September 2013 and 30 June 2014, this was a drop of more than 53% year on year compared with September 2012-June 2013, according to Mexico’s 2014 annual government report,...