Pemex CEO Says Only Small Amount of Fields to Be Returned

The transcript discusses the retention and development of oil fields, emphasizing the need to meet regulatory deadlines to avoid returning fields to the state. It highlights progress in forming partnerships, including a significant farmout in the Gulf of Mexico with BHP. The speaker mentions strategies for developing small fields and the competitive nature of the bidding process for joint ventures, with many companies interested in shallow waters and onshore opportunities.

What is the consequence if the company fails to develop the oil fields within the specified three-year period?

• They will face legal action.

• They will have to pay a fine.

• They will have to return the fields to the state.

• They will lose their license to operate.

Which company partnered with the firm for a deepwater farm out in the Gulf of Mexico?

• Chevron

• ExxonMobil

• Shell

• BHP

What strategy is the company using to ensure they meet regulatory requirements and avoid returning fields?

• Increasing oil prices

• Selling off unproductive fields

• Maximizing and clustering small fields

• Focusing on large fields only

How many oil production areas have been approved for future joint ventures?

• Five

• Three

• Four

• Two

What is a key characteristic of the bidding process for future joint ventures?

• It is open to all companies without restrictions.

• It is a non-competitive process.

• It has strict entry requirements.

• It is limited to local companies only.