Energy reforms in 2014 ended state monopolies in electricity generation, as well as oil and gas sectors. This allows greater private investment and foreign participation in exploration, production and transportation activities.
Various onshore and offshore blocks have been assigned to a wide range of Mexican and international companies. Among them is Mexico’s national oil company, Petróleos Mexicanos (Pemex).
Pemex has announced plans to move into deepwater oil exploration and production (E&P). Singapore’s upstream E&P equipment companies can seize opportunities to supply rigs, vessels and equipment, as well as technology and engineering solutions. There are also opportunities in Pemex’s plans to build new oil refineries and upgrade existing ones.
Singapore companies with established presence in this sector include Ezra Holdings Ltd, Keppel Offshore & Marine Ltd, Pacific Radiance Ltd, Vallianz Offshore Marine Ltd , NauticAWT Ltd, and Sembcorp Marine Ltd.