LatinNews Regional Monitor: Mexico - 06 February 2020

* In an interview with Mexico’s official state news agency Notimex on 5 February, Merlin Cochran, director general of Mexico’s association of hydrocarbon producing firms (Amexhi) revealed that the country’s private oil sector hopes to increase oil production to 75,000 barrels per day (bpd) this year, up from 48,000bpd in 2019. Cochran explained that increases will come as a result of farmouts and oil fields awarded in Round 1.3 of the national hydrocarbon commission’s (CNH) public bidding process, but that the biggest increase will come from the field acquired in Round 1.2 by Hokchi Energy, a subsidiary of Argentine company Pan American Energy. Total oil production in Mexico fell by 7% in 2019, down to 1,679,100bpd, of which 3% was produced by private companies.

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