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Carlos Slim Intensifies Investments in Offshore Oil in Mexico, Expands Presence in Strategic Fields and Becomes the Main Name in the Country’s Private Energy Sector.
The advancement of Carlos Slim in Mexico’s oil sector has gained a new chapter with the decision to increase his share in offshore fields located off the coast of Campeche.
The latest move plans an investment of US$ 270 million for the acquisition of the remaining shares of these assets, reinforcing the businessman’s presence in a strategic area of the Mexican economy.
The operation was announced by Grupo Carso SAB, a conglomerate controlled by Slim. According to a statement released on Monday, the company will acquire Fieldwood Mexico, owned by the Russian Lukoil.
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With this, the group will hold the remaining 50% of the Ichalkil and Pokoch fields, gaining full control over the exploration areas.
Offshore Strategy Advances After Previous Acquisitions
This is not the first investment by the businessman in these fields. In 2023, Slim had already acquired half of the shares through the purchase of PetroBal SAPI. Now, by completing the operation, he consolidates a clear strategy of expansion in the offshore oil segment, one of the most promising in the country.
With this new agreement, the volume of resources allocated to the sector is noteworthy. Considering the transaction with Lukoil, Carlos Slim has invested over US$ 2.4 billion in offshore assets in Mexico. This amount positions him as the largest private investor in the national oil sector, surpassing other business groups in the industry.
In addition to the fields, Slim has also brought in specialized professionals in oil exploration and production. The acquisitions of PetroBal and the Mexican unit of Talos Energy, based in Houston, have expanded the group’s human capital. Currently, the businessman controls about 80% of Talos’s Mexican operations.
This participation secures a relevant position in the Zama oil field, considered one of the largest in the country. The presence in this project reinforces the magnate’s influence in high-potential production and economic impact assets.
Relationship with Pemex Strengthens Amid State-Owned Company’s Challenges
As Carlos Slim expands his operations, Petróleos Mexicanos (Pemex) faces structural challenges. The state-owned company struggles with rising debt, declining oil production over decades, and operational difficulties in its refineries, which remain unprofitable.
In this scenario, Slim has quietly become Pemex’s largest private partner. In addition to agreements in the offshore sector, the businessman has partnered with the state company to develop the Lakach deep-water gas project. He also signed a contract estimated at US$ 2 billion for drilling wells in the Ixachi gas field.
Pemex’s financial situation has a direct impact on its investment capacity. The state-owned company remains trapped in a cycle of interest payments on its high debt, which reduces the available resources to expand oil production or modernize its refineries.
At the end of last year, Pemex even ceded operation of the Zama field to partner Harbour Energy. The decision came after years of disputes to take control of the megafield previously linked to Talos. Still, there remains expectation about the role Slim’s resources may play in the recovery of the state company’s performance.
Carlos Slim, the Richest Man in Latin America
According to the Bloomberg Billionaires Index, Carlos Slim’s net worth is estimated at US$ 114 billion, placing him in 16th position among the richest people in the world.
A large part of this fortune was built from América Móvil, one of the largest telecommunications companies in the region. Grupo Carso, in turn, encompasses holdings in areas such as construction, retail, mining, and, more recently, oil and energy.
Over the decades, Slim has consolidated a strategy based on diversification. His trajectory began with the privatization of telecommunications in Mexico, progressed to industrial sectors, and in recent years, has included substantial investments in oil.
The expansion in offshore fields, participation in Talos Energy, and contracts with Pemex show that the businessman bets on the continuity of oil as a strategic sector. This occurs even in a global context marked by the energy transition and the growth of renewable sources.
These moves position Carlos Slim as one of the most influential private investors in the Mexican energy sector, with a direct impact on production, offshore projects, and the relationship between private capital and state in the oil market.
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