MEXICO CITY May 12 Mexico's energy reform
provides a range of attractive investment possibilities for
international oil companies in Latin America's second-biggest
economy, a senior Chevron Corp executive said on Monday.
"There's tremendous opportunity here," Ali Moshiri,
Chevron's Houston-based head of exploration and
production for Latin America and Africa, said at an event in
The constitutional energy reform passed late last year ends
state oil company Pemex's 75-year-old monopoly and
could pave the way for billions of dollars in new investments
aimed at reversing a nearly decade-long slide in crude
So-called secondary legislation that will set out fiscal and
regulatory details of the reform was presented a couple weeks
ago, and is expected to be taken up by Mexico's Congress in a
special session in June.
"As soon as the secondary laws pass ... then we can
basically take that information and then look for the
opportunity that meets our economic requirements," said Moshiri.
He did not specify which areas in Mexico, the world's No. 10
producer of crude, are most attractive to the San Ramon,
California-based oil major.
Chevron, the third-largest deep water crude producer in the
U.S. Gulf of Mexico, currently has a technology collaboration
agreement with Pemex but no other commercial tie-ups with the
Mexican state oil giant.
"Whether or not it's unconventional or conventional
(projects in Mexico), or deep water, it really doesn't matter,
because we have technology for all of it, and we are in business
in all of it," he added.
(Reporting by David Alire Garcia; Editing by Lisa Shumaker)