Overview
- The contracts were recorded in President Claudia Sheinbaum’s First Informe, with Pemex moving to formalize a second batch before year-end and a plan to reach 21 schemes in 2025.
- Company projections indicate potential to add up to 450,000 barrels per day by 2033 under the mixed-contract program focused on fields with confirmed, faster-to-produce resources.
- Physical investment dropped 32.1% from January to July versus 2024, the lowest level for that period since 2008, while crude output averaged about 1.44 million barrels per day against a 1.56 million target.
- By June, Pemex had spent 75.3% of its 2025 exploration and production budget and had drilled 25 wells versus a goal of 225, underscoring tight funding and operational shortfalls.
- Pemex launched a bond repurchase offer of up to $9.9 billion for notes due 2026–2029, as analysts flag nearly $100 billion in financial debt, about $22 billion in supplier liabilities, and risks from invitation-style awards that could limit partner quality.