The Mexico City office was established in 2001 in order to seek commercial opportunities in the Mexican oil and gas sector.

Statoil has a general cooperation agreement with Mexico’s state oil company Petroleos Mexicanos (PEMEX). Statoil’s Country Manager for Mexico is Mr. Helge Hove Haldorsen in Statoil Development and Production North America.

Mexican President Enrique Peña Nieto has proposed constitutional amendments to open Mexico’s energy sector to private investment. If successful, the move would be the most significant oil reform since the nationalization of Mexico’s energy industry in 1938.

The scale of the opportunity in Mexico is material, both in the Gulf of Mexico and onshore. According to Pemex, the proven reserves are almost 14 billion barrels of oil equivalent (boe). Pemex recently estimated shale play reserves to be around 60 billion boe.

Statoil is positive to Mexico possibly opening up. Should Mexico offer globally competitive terms and material opportunities, Statoil would be interested in participating both onshore and offshore.

Some of the lessons learned on the Norwegian Continental Shelf over the last 40 years have been shared with Pemex and Mexican authorities. In May 2013, Norway’s Minister for Petroleum and Energy, Ola Borten Moe, presented the ‘Norwegian Model’ to 250 key stakeholders in Mexico City.