Higher oil prices, a drastic reduction of costs, and regulatory adjustments introduced in several countries are driving greater investment in the waters offshore Latin America.
Everything indicates that this favorable scenario will continue to consolidate in the short and medium term. However, uncertainties posed by the political environment in Mexico and Brazil are a question mark. In these two countries, where a large part of the region's offshore potential is concentrated, outgoing governments launched a very ambitious schedule of rounds, but that pace could be slowed after the start of the new government.
In the coming months, the main attention of the industry will be on the direction adopted by the president-elect of Mexico, Andrés Manuel López Obrador, and the successor of Michel Temer in Brazil. But the focus will also be on Guyana, where discoveries have surpassed expectations. In addition, there is growing interest in the next steps of Argentina and Colombia, countries that are beginning to show signs that they seek to obtain greater revenue from their offshore hydrocarbon wealth.
In this report we will describe the offshore segment in Mexico, Brazil, Guyana, Argentina, Colombia, Peru and Uruguay. In addition, we will identify opportunities and what to expect in the coming years in these countries.