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Deepwater Insights – Latin America November 2017

After several slow years for Latin America since the end of the global commodities super cycle, a settled oil price has spurred many countries into action in a bid to entice operators to invest once again in their resources. Argentina, Brazil, Mexico and Uruguay are set to open deepwater licensing rounds in 2018, with the Argentinean and Brazilian rounds backed by large-scale seismic surveys. Notably, Argentina’s round could mark the country’s entry into the ranks of Latin American deepwater contenders. Brazil will be looking to fend off Mexico to retain its crown as the leading Latin American oil producer whilst Peru is hoping to revive its hydrocarbon industry under a new government. Suriname, meanwhile, wants to jump on Guyana's wave through a second ‘open door licensing round’ after the latter showcased its potential following two world class finds by ExxonMobil.


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