A first for Mexico

Tabasco, Mexico

Last year, we were selected to develop two key fields in Tabasco State, Central Mexico.  This is a 25-year contract where we plan to invest US$500 million and employ some 150 people, with the aim of increasing production and managing the operations and maintenance of the fields.  These are the first-ever incentive contracts in Mexico and the first contracts of their kind to be awarded to a non-Mexican company since the 1970s.  That is because we do not look to own the reserves, but to co-invest based upon common and aligned goals.  That way, together we can build a sustainable operation that benefits our business, the country and the local community.