Pemex to speed up its association strategy in order to increase output of crude oil and bring reverses on line

Pemex to speed up its association strategy in order to increase output of crude oil and bring reverses on line

Pemex to speed up its association strategy in order to increase output of crude oil and bring reverses on line

The FINANCIAL -- Pemex will accelerate the establishment of farm-out arrangements and strategic associations across its business lines in order to increase production of both crude and petroliferous protects, and to bring reserves into production and gain access to the latest technology.

This mechanism will allow Pemex to increase investments, enhance competitiveness and optimize how it spreads financial and technological risks, according to Pemex .

This shifting of gears was announced by Pemex CEO José Antonio González Anaya in his opening address at the Mexican Petroleum Congress 2017, who said Pemex’s 2017-2021 business plan is already being deployed under the guiding principle of profitability. Thanks to this approach, he said, important, tangible progress has been made by the company.

According to Gonzalez Anaya, the chief challenge for Pemex in the near term is to consolidate it financial situation, taking advantage of an historical opportunity to exploit the instruments and flexibility provided in the energy reform initiative.

In the presence of Puebla State Governor José Antonio Gali, González Anaya emphasized that 2017 will be a watershed year for the state-owned energy giant, a year in which its books will show a primary surplus for the first time in five years.

He added that associations will be fundamental to refining and logistics, as illustrated recently by the French company Air Liquide, which supplies hydrogen to the Tula refinery, bringing Pemex a savings of 30% on the production cost of hydrogen.

The 2017 Mexican Petroleum Congress was inaugurated by the Secretary of Energy Pedro Joaquín Coldwell. The event includes at least 200 stands representing national and international petroleum industry companies. The program includes plenary sessions, technical seminars with oil sector specialists and the participation of the General Director of Pemex Exploration and Production Javier Hinojosa Puebla and the Corporate Director of Alliances and New Business José Manuel Carrera Panizzo.

 


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