BP withdraws from hydrocarbon exploration in Mexico

By: Franyi Sarmiento, Ph.D., Inspenet, August 18, 2022

The British energy company, BP, will stop exploring for hydrocarbons in Mexico after six years of presence in the country following the opening of the energy sector to private companies during the administration of Enrique Peña Nieto.

According to Bloomberg Linea, the company headed by Angelica Ruiz in Mexico, reported that some of the exploration projects in offshore blocks in the Gulf of Mexico are not commercially viable in the future for the company.

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These contracts in which the subsidiary BP Exploration Mexico participates are CNH-R01-L04-A1.CS/2016 (corporate control ceded to TotalE&P Mexico in 2022); the production sharing contract CNH-R03-L01-G-CS-03/2018, in partnership with QPI Mexico, Hokchi Energy and TotalE&P Mexico.

BP participates in a third contract (CNH-R01-L04-A3.CS/2016), which is operated by Equinor Upstream. BP is reportedly deciding to abandon hydrocarbon exploration in this region of the country, following the termination of the aforementioned contracts.

This material from energiahoy.com was edited for clarity, style and length.

Source: https://energiahoy.com/2022/08/15/desiste-bp-en-exploracion-de-oil-gas-en-mexico/