Great Expectations

ExxonMobil was initially interested in bidding in the first phase of the Round One but eventually did not participate. What opportunities do you see this reform bringing to Mexico?

Energy reform has provided opportunities for Mexico to emerge as a global leader in international investment and enhance its global competitiveness, and we have closely followed its implementation. After conducting a thorough assessment, we decided not to participate in the shallow water round. We continually look for new opportunities around the world in which we can leverage our experience and technology in finding and developing hydrocarbon resources, and we look forward to evaluating future opportunities in Mexico. Competition is global, and projects in Mexico will compete with projects in every other oil-producing nation. Countries must offer globally competitive terms to attract companies and investment. We welcome the steps Mexico has taken on important issues regarding transparency and rule of law and legal stability, and we will carefully consider these issues as we evaluate investment opportunities in Mexico. Measures of success will include both investment levels and the type of investor, i.e. large, experienced companies with long-term investment perspectives. Companies with significant capital, execution capacity, cost efficiencies and operational safety will maximize the value of Mexico’s resources.

ExxonMobil signed a Memorandum of Understanding (MoU) with Pemex in 2014. What are its key points and in what specific areas could both institutions collaborate in the coming years?

In October 2014, ExxonMobil signed a MoU with Pemex to exchange academic, scientific and technical knowledge, and best practices. The three-year agreement was signed in the presence of Rex W. Tillerson, Chairman and Chief Executive Officer of ExxonMobil Corporation, and Emilio Lozoya Austin, General Director of Pemex. With this MoU, ExxonMobil and Pemex will focus on several technical areas across the entire oil and gas value chain, including research and development. This agreement allows ExxonMobil to share best practices regarding industrial safety, workplace health, and sustainability. The memorandum allows both companies to collaborate for training purposes and professional exchanges. This is a mutually beneficial agreement that could help us to expand our joint capabilities in the future.

What are your expectations for the company in Mexico for the year ahead?

ExxonMobil looks forward to evaluating future opportunities. We are supportive of regular bid rounds, which enable companies to develop a longer-term business strategy and create additional value for Mexico by encouraging a more constant level of economic activity over time.