Why Mexico Needs Standard Farmouts

Why Mexico Needs Standard Farmouts

This report was prompted by a seminar held at Rice University’s Baker Institute on November 1, 2016, on the subject of recent trends in the Mexican economy. During Q&A, the speaker, a deputy secretary from Mexico’s Finance Ministry, responded with surprise at the comment that Pemex and the government were using the term “farmout” in a non-standard way.

This report provides a basic description of the standard farmout model, as used in the United States, and also offers reasons for choosing “farmout” by Mexican authorities.

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Written by

George Baker

Baker & Associates offers niche-market business and policy intelligence related to Mexico's oil and gas, power and chemical industries. Subject matter expert and publisher George Baker, who spearheads the firm, carried out consulting assignments starting in the late 1970s at the height of the Oil Boom in Mexico. He brings bilingual and bicultural skill-sets to understanding and responding to challenges of business and public policy, coupled with a deep familiarity with the history and idiosyncrasies of the Mexican operating environment.

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