Onshore US oil and gas exploration and production company Northcote outlined its hopes for Mexico as it announced the appointment of a full time executive vice president for operations in the country.
Mexico has recently reopened its vast energy sector to international companies.
Northcote, which has US exploration and production assets in Oklahoma and Louisiana, said Abraham Achar brought a “wealth of relationships and experience” in both Mexico and the US that would open up new opportunities for the company.
It added: “Mr Achar is a Mexican citizen with an impressive network of governmental, corporate and investor contacts covering an extensive range of industries in-country and in the US.
“These have been gained through a range of high profile roles held throughout his career which have been predominantly aimed at promoting foreign investment into Mexico across the construction, textile and fabrics, hospitality, mining, energy, oil and gas, coatings and transportation sectors on behalf of the Mexican government.”
Northcote managing director Randall Connally added: “As demonstrated by our exposure to Mexico through our agreement with MX Oil plc, we believe that Mexico holds significant opportunities to generate value which is worthy of additional exploration.
“We are excited that Mr. Achar has agreed to join us in this endeavour.
“Our initial focus will be on the oilfield services sector and on facilitating relationships between medium sized US oilfield services companies and counterparts in Mexico.
“We are also looking at opportunities to joint venture with companies whereby Northcote will directly participate in projects in Mexico.
“We look forward to being part of what I believe will be one of the most exciting economic development stories in the world over the next decade.”
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