Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM) and BP (NYSE:BP) are in discussions with the Mexican government and state-owned oil company Pemex over potential oil exploration and production projects that could collectively add up to 200,000 barrels per day of output, according to a report by El CEO.
The three oil majors have already submitted proposals to Energy Minister Luz Elena González covering fields that would require new capital investment. Each of the projects could deliver up to 50,000 barrels per day of production, the report said, citing people familiar with the matter.
Several Mexican firms, including Diavaz, Opex and Jaguar, have also expressed interest in taking part in the development of the fields.
The prospective partnerships reflect Mexico’s efforts to strengthen oil output by working with international energy companies and domestic players to bring in investment, technology and operational expertise.