Market Size of Mexico Oil and Gas Upstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 1.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Oil and Gas Upstream Market Analysis
Mexico oil and gas upstream market is expected to grow at a CAGR of more than 1% during the forecast period. Sustained growth in the consumption of natural gas, petroleum, petrochemical products, foreign investments, and modern developments of oil and gas exploration and production activities are the major drivers for the oil and gas upstream sector in Mexico. However, the high volatility of oil prices is expected to hinder the market growth during the forecast period.
- Most of Mexico's production is from the offshore fields, and therefore, the offshore segment is likely to dominate the market during the forecast period.
- The innovation of new technologies allows unconventional drilling that enhances oil & gas production. New business models and services are rapidly evolving and assisting to reduce the cost of operations in upstream oil & gas, which in turn promoting the market growth is expected to provide opportunities in the market in the coming years.
Mexico Oil and Gas Upstream Industry Segmentation
Mexico oil and gas upstream market report includes:
| Location | |
| Onshore | |
| Offshore |
Mexico Oil and Gas Upstream Market Size Summary
The Mexico oil and gas upstream market is poised for growth, driven by increased consumption of natural gas, petroleum, and petrochemical products, alongside foreign investments and advancements in exploration and production technologies. Despite the challenges posed by the volatility of oil prices, the market is expected to expand, with offshore fields playing a dominant role due to Mexico's significant reserves in these areas. The innovation of unconventional drilling technologies and the evolution of new business models are contributing to reduced operational costs, further bolstering market growth and presenting future opportunities.
Foreign investment has been a significant catalyst in the Mexican upstream sector, with international energy companies actively participating in exploration and production activities. This influx of investment has been facilitated by competitive production sharing contracts and licenses, which have attracted major players like Royal Dutch Shell, Total SA, and Chevron Corporation. The deep-water segment, in particular, has seen substantial investment, with companies exploring and developing resources in both shallow and deep-water fields. As a result, the Mexico oil and gas upstream market is expected to experience continued growth, supported by these strategic investments and technological advancements.
Mexico Oil and Gas Upstream Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Location
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2.1.1 Onshore
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2.1.2 Offshore
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Mexico Oil and Gas Upstream Market Size FAQs
What is the current Mexico Oil and Gas Upstream Market size?
The Mexico Oil and Gas Upstream Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029)
Who are the key players in Mexico Oil and Gas Upstream Market?
Royal Dutch Shell Plc , Total SA , Repsol SA, Premier Oil PLC and Chevron Corporation are the major companies operating in the Mexico Oil and Gas Upstream Market.
