Mexico faces challenges in deepwater operations

Managers of Petroleos Mexicanos (Pemex), recognizing the importance of deepwater exploration and development to Mexico's hydrocarbon-producing future, acknowledge the need for capital and technology from abroad and are examining forms of strategic association with international operators. But some of the challenges facing Pemex require solutions before Mexican prospects in the deepwater Gulf of Mexico become major targets for foreign drilling investment.The stakes are immense: the resource potential for another North Sea.An important sign of changing Mexican attitudes toward the participation of outsiders in oil and gas operations—at least in deep water—came on Oct. 18. Sp...

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