Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

MX Oil sets up Mexican group ahead of licensing round

24/09/2014 by

W1siziisijiwmtqvmtavmjgvmtuvmtivndqvntcyl2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

MX Oil  has confirmed the formation of a new joint venture company in Mexico that will participate in the country’s first licensing round.
Mexico is in the process of opening up its oil industry to private companies, ending an 80 year state monopoly.

AIM quoted MX has been set up to become among the early movers in this new market, alongside a Mexican partner, Geo Estratos.
The new joint venture company, called Geo Estratos MXOil Exploracion y Produccion (Sociedad Anonima Promotora de Inversion de Capital Variable), will be 51% owned by MX Oil and 49% owned by Geo Estratos.

“With the JV Company now established, MX Oil is well placed to develop oil and gas assets in Mexico with company-making potential,” said chief executive Stefan Olivier.

He added: "We regard the incorporation of the Mexican entity to participate in the upcoming rounds as an endorsement of MX Oil's credibility as an early mover in the country's vast reopening energy sector.

“In our view this is testament to the quality of both the team we have put in place at MX Oil as well as that of our partner Geo, a leading local oil services company with a proven track record in the Mexican energy sector. 

MX Oil is to put US$1mln into the new company to fund its share of initial investment costs.
The new company has a general permit to operate in Mexico which will allow it to participate in the licensing round which is scheduled to get underway in November.

This article has been extracted from http://www.proactiveinvestors.co.uk/, please click on this link to read the article in full http://www.proactiveinvestors.co.uk/companies/news/72563/mx-oil-sets-up-mexican-group-ahead-of-licensing-round-72563.html

Montash is a multi-award winning, global technology recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdcvmtgvmdgvndcvmduvntu5l2jpz3n0b2nrluv4b3rpyy1qyxjhzglzzs1ucmf2zwwtvg91cmktmtc2mju4ndm3lmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Getting Ready to Switch Off

2017-07-17 09:00:00 +0100

According to research by online travel company Expedia, just 53% of workers come back feeling rested after they’ve been on holiday. When you bring work-related stress on holiday with you, you’re never going to be able to truly switch off. So if you've got a summer holiday coming up, what should you do to switch off and unwind? Before you leave... Plan ahead As soon as you know when your last day of work is, make a plan. You don't want to get to that fin...

W1siziisijiwmtcvmdyvmzavmtyvmtgvmjavmtg5l3nodxr0zxjzdg9ja182njkxody3mdkuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

In Her Shoes... SAP Contracting

2017-07-03 09:00:00 +0100

In IT, being a freelancer is very common; due to the nature of project work or other life commitments. SAP is an area in which a quality freelancer can really thrive. We sat down with one of our SAP freelancers, who has 20 years' experience, to find out more about SAP and working under a contract employment model. "After getting a degree in computing, I started my career as a training assistant, but I've always liked to fix things. I used to fix my own ...