Mexico’s oil industry regulator CNH (Comisio Nacional de Hidrocarburos) has approved the first company other than state firm Pemex to drill an offshore oil well in the country’s waters.
The distinction falls to Hokchi Energy a company jointly owned by Argentinian firms Pan American Energy and E&P Hidrocarburos y Servicios.
The first well will be 27 kilometres from the port of Dos Bocas, Tabasco.
It will start drilling in October and is investing $41.7m.
Since 2013’s energy reforms the government has been reducing state oil firm Pemex’s monopoly position on domestic production.
