The delegation was led by Greater Houston Partnership President and CEO Bob Harvey and included nine Houston companies. Mexico is in the middle of historic energy reforms, with the national oil company, Pemex, giving up some control of the country’s energy assets and inviting foreign investment and partnerships.
“I understood that this would have significant magnitude before I went down, but I’ve come back more convinced that this is a very significant opportunity for Houston energy companies to participate more directly and to a more substantial degree than they ever have in the past in Mexico.”
Harvey says the pace of change is surprising. He says by the end of the summer, Houston companies could find out which assets Pemex will hold onto and others that will be available for bid.
“Houston companies need to be down in Mexico today either talking to Pemex, talking to government officials, understanding what’s happening and then preparing strategies for how the intend to participate going forward. This a major opportunity for Houston.”
Mexico will likely rely more heavily on the expertise of Houston companies when it comes to deepwater and fracking technology.