The acquisition of PetroBal by Grupo Carso boosts its presence in the oil sector.

The acquisition of PetroBal by Grupo Carso, owned by Carlos Slim, has attracted attention in the business world, especially in the oil sector. This oil company, which belonged to the Baillères family and was created after the announcement of the energy reform in Mexico, has been crucial for Slim's emerging oil business due to the fields it owns, which are the result of contracts obtained in the oil rounds. Until now, Grupo Carso lacked oil-producing fields, a fundamental element to be considered serious in the industry. Despite having been a contractor for Pemex and having won some contracts during the oil rounds, their fields were in the exploration phase. However, the purchase of PetroBal for 530 million dollars has given them access to two oil-producing fields: Ichalkil and Pokoch, which are among the few awarded to private companies. Investments in these fields are high, but they have been evaluated and are in development, reducing the associated risk of their exploitation. Ichalkil produces around 2,941 barrels per day and Pokoch around 7,058 barrels per day, although a downward trend in production has been observed. Fieldwood, the company that owned half of these fields and was acquired by Lukoil, was the fourth largest private oil company in Mexico in terms of production, representing around 10% of private production in the country. The importance of these fields lies not so much in their current production, but in their proven, probable, and possible reserves (3P), which represent 4.2% of all reserves in Mexico. Grupo Carso, by acquiring PetroBal, becomes a partner of Lukoil in these fields, not operating them directly but participating in the financial structure. Fieldwood's production has experienced a significant reduction, going from reporting 23,000 barrels per day at some point to lower figures. John Padilla, Managing Director of IPD Latin America, highlights the relevance of these fields for Grupo Carso, as although they do not have the highest production, they represent a significant portion of the country's oil reserves. This acquisition ensures Grupo Carso a steady oil production and positions it as an important player in the Mexican oil sector. It is crucial for the company to review and adjust its development and investment strategies to maximize the potential of these fields and ensure their long-term profitability. In conclusion, the purchase of PetroBal by Grupo Carso, led by Carlos Slim, marks a milestone in its entry into the oil business in Mexico. The acquisition of oil-producing fields gives the company a new dimension and places it in a strategic position in the market. Although challenges and obstacles will not be lacking, the long-term vision and growth potential offered by these assets could be decisive for Grupo Carso's success in this new sector.