European Companies Eye Opportunities in Mexico Following Energy Overhaul

European companies are pondering the possibilities stemming from the energy sector overhaul announced on Monday by Mexico’s President Enrique Peña Nieto, with Netherlands' Boskalis predicting a rush of investments to the country. 

“You will see many tens of billions worth of new investments and if we can take a share of that pie that would be nice,” Boskalis’ Chief Executive Peter Berdowski told reporters.

Mexico moved to end the country’s 75-year-old monopoly on hydrocarbons production, triggering frenzy among operators suffering from a stagnant European market. 

“For us it could mean a market of hundreds of millions,” Berdowski added referring to Mexico, fourth country in the world for shale gas reserves.

On Monday, Mexican government unveiled a plan to change to constitution in order to allow public institutions to team up with private companies. It would change the business model of the country’s energy sector, in which service companies are paid by the state monopoly Petróleos Mexicanos to perform any activities in the process.

Boskalis is a global maritime services company operating in dredging, offshore energy and inland infra sectors.