The U.S. supplies 81% of Mexico’s natural gas today and demand is expected to grow as the country expands its use of gas-fired power plants, said Regina Mayor, KPMG’s global and U.S. head of energy.
Mexico’s energy reform has led to at least 12 new pipeline projects with U.S. firms and a new gasoline station opened by BP, the first non-Pemex facility in the country in 80 years.
However, one major resource is not in short-term plans: shale. While the Eagle Ford stretches across the U.S. border into Mexico and the country’s 13 billion barrels of recoverable crude from shale place it at No. 8 in the world, the economics of exploitation make it more worthwhile to pursue cheap imports and offshore drilling for now.
The field is located southwest of the Marulk Field, Equinor said, while it estimated gas resources to be about 50 million to 88 million barrels of oil equivalent.
Energy Minister Prince Abdulaziz bin Salman said oil production in October would be 9.89 MMbbl/d and that the world’s top oil exporter would ensure full oil supplies to customers this month.
Emerson said Sept. 17 its entire E&P software suite is now available on Microsoft Azure’s cloud computing platform, enabling oil and gas companies to securely take advantage of digital technologies to better model and optimize production in new and established reservoirs.