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The existence of commercial, cross-border oil and gas fields between the US and Mexico has yet to be established. Were such fields proved, the fact remains that neither the US nor the Mexican governments have done the preparatory work to make joint production feasible. Where the US has a regulatory agency (MMS), that body has no authority or mandate to deal with cross-border issues. The situation is worse in Mexico, where there is no upstream authority at all, and where a constitutional restriction prevents Pemex from operating as a partner in a joint-ventured operation. For its part, the Mexican government is aware of this situation, and, hopefully, will take steps to fill in the blanks.
In Mexico’s National Development Plan that was made public on May 31, 2007, the government of President Felipe Calderón noted that “Pemex lacks the technology to develop the yet undiscovered resources in ultra-deep water...
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Houston, TX - November 4-5
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