Mexico invites Malaysian O&G sector to invest in assets

KUALA LUMPUR, Sept 7 — Malaysian oil and gas O&G and energy companies have been urged to tap into the vast opportunities in Mexico which has recently opened its O&G and electric industries to private and foreign investors after over 70 years of state control.    Mexico’s Ambassador to Malaysia Carlos Felix Corona said the energy reform allowed foreign direct investment and profit-sharing in Mexico’s O&G exploration, refinement, production, transportation and storage, which until recently was the monopoly of state-owned Petróleos Mexicanos Pemex.He said Mexico invites foreign bids for O&G blocks from deep waters to mature fields and non-conventional reserves such as shale gas production from January 2015.         The Mexican government has identified 109 blocks for the first round of bids and expects investments of around US$50 billion over the next four years, including partnerships with Pemex.

via Mexico invites Malaysian O&G sector to invest in assets | Money | The Malay Mail Online.

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