Mexico ’s state - owned petroleum firm Pemex has cancelled migrating contracts for the Magallanes , Panuco , Pitepec , Altamira , Amatitlan , Humapa and Miahuapan blocks , according to board minutes , as part of a plan to go it alone . In January 2010 , Petrofac 's integrated exploration and production ( API ) contract for the Santuario block was switched to a production - exploration contract . Production has since increased by 70 % . Petrofac continued migration of its contracts for the Magallanes and Arenque blocks . Where Pemex will find the resources to develop all these fields also remains unclear as the company, struggling under more than $100bn in debt, has just Ps211bn ($11bn) to invest in upstream this year. However , President Andres Manuel Lopez Obrador 's government has cancelled all farm - outs , scheduled upstream drilling and migrations , closing off options for private investment in Mexico ’s oil sector .
Mexico ’s state - owned petroleum firm Pemex has cancelled migrating contracts for the Magallanes , Panuco , Pitepec , Altamira , Amatitlan , Humapa and Miahuapan blocks , according to board minutes , as part of a plan to go it alone . In January 2010 , Petrofac 's integrated exploration and production ( API ) contract for the Santuario block was switched to a production - exploration contract . Production has since increased by 70 % . Petrofac continued migration of its contracts for the Magallanes and Arenque blocks . However , President Andres Manuel Lopez Obrador 's government has cancelled all farm - outs , scheduled upstream drilling and migrations , closing off options for private investment in Mexico ’s oil sector .