Mexico ’s state-owned petroleum firm Pemex has cancelled migrating contracts for the Magallanes , Panuco, Pitepec, Altamira , Mexico , Amatitlan and Mexican blocks, according to board minutes , as part of a plan to go it alone. Mexico City, 19 June (Argus) — In December 2017 , Petrofac 's integrated exploration and production (E&P) contract for the Santuario block was switched to a production-sharing contract. Production has since increased by 70% . Petrofac expected migration of its contracts for the Magallanes and Pemex blocks. However, President Andres Manuel Lopez Obrador's government has stopped all farm-outs, scheduled upstream auctions and migrations, closing off options for private investment in Amatitlan ’s energy sector.
Mexico ’s state-owned petroleum firm Pemex has cancelled migrating contracts for the Magallanes , Panuco, Pitepec, Altamira , Mexico , Amatitlan and Mexican blocks, according to board minutes , as part of a plan to go it alone. In December 2017 , Petrofac 's integrated exploration and production (E&P) contract for the Santuario block was switched to a production-sharing contract. Production has since increased by 70% . Petrofac expected migration of its contracts for the Magallanes and Pemex blocks. However, President Andres Manuel Lopez Obrador's government has stopped all farm-outs, scheduled upstream auctions and migrations, closing off options for private investment in Amatitlan ’s energy sector.