BY DAVID ALIRE GARCIA
May 20 Mexico’s marginal oil fields hold more potential than any other country in Latin America, a mostly onshore resource that could be tapped quickly with techniques perfected in the U.S. shale boom, the lead author of a new study said on Wednesday.
The 14.1 billion barrels in incremental oil potential from Mexico’s lower-quality, overwhelmingly onshore fields is bigger than any nation bar Russia and Iran, said Leta Smith, director of upstream energy research at consultancy IHS Energy.
“The thing that makes it exciting is that access to Russia and Iran is pretty limited for most international oil companies, but Mexico is opening up right now,” she said.
Last year, Mexico finalized a historic energy overhaul that ended state-owned oil company Pemex’s longstanding oil and gas monopoly and that aims to lure billions of dollars in private investment via new contracts to ... Read More