Overview of Carlos Slim’s Recent Acquisition
Grupo Carso, led by Mexican business magnate Carlos Slim, has recently secured a significant position in the Mexican oil industry. The company acquired 100% of the contractual area 4, which includes the Ichalkil and Pokoch fields located in shallow waters off the coast of Campeche. This acquisition, subject to regulatory approvals from Russian oil company Lukoil (previously owned by U.S.-based Fieldwood, the winning bidder in the auction), positions Grupo Carso as Mexico’s second-largest oil operator after Petróleos Mexicanos (Pemex).
Production Capacity and Significance
With this acquisition, Grupo Carso gains control over one of the three most productive private areas in Mexico, boasting a daily production of 11,451 barrels of oil. This places them behind only area contractual 2 (Ronda 1.2), operated by a consorcio of Argentine companies including Hokchi, which reported 19,134 barrels per day until a year ago. Area 1 (also from Ronda 1.2) was managed by Italian company ENI, which produced 33,896 barrels per day up until early 2025 when the Mexican government ceased publishing private extraction statistics.
Financial Details of the Acquisition
According to Grupo Carso’s disclosure to the Mexican Stock Exchange, the purchase price for 100% of Lukoil’s Sociedad capital stock was $270 million. Additionally, Grupo Carso assumed a $330 million debt owed by the Sociedad to Lukoil as the seller.
Carso’s Growing Presence in Mexican Oil Sector
Since June 2024, Grupo Carso, via its subsidiary Zamajal, completed the acquisition of Petrobal Upstream Delta 1 from Grupo Bal. This move secured the other 50% stake in Area Contractual 4 for Grupo Carso. The Ichalkil-Pokoch block, as of its last public report, contained four development wells and estimated proven and probable reserves (2P) of 68 million barrels of light oil and 92 billion cubic feet of gas.
Other Carso Ventures in Mexican Hydrocarbons
In other ventures within the Mexican hydrocarbons sector, Grupo Carso’s subsidiary Zamajal acquired 49.9% of the Mexican branch of Talos, which currently holds a 17.4% stake in the Zama field in the Gulf of Mexico. An independent external auditor estimated that the recoverable volumes discovered in Zama range between approximately 735 and 950 million barrels of oil equivalent. Once developed, this field—the first private discovery in Mexico located in shallow waters—could potentially produce over 160,000 barrels of oil equivalent per day.
Collaboration with Pemex
In collaboration with the Mexican government, Grupo Carso signed a contract with Pemex in September of the previous year for up to $1,991 million worth of drilling services for up to 32 wells in the Ixachi terrestrial field. Furthermore, Grupo Carso is reviewing the viability of the Lakach gas project in deep waters with Pemex, which holds an estimated 900 billion cubic feet of gas and is one of the earliest planned developments in Mexico’s ultra-deepwaters.
Key Questions and Answers
- Who is Carlos Slim and why is he relevant? Carlos Slim is a prominent Mexican business magnate with interests spanning telecommunications, construction, and now, the oil industry. His recent acquisition through Grupo Carso solidifies his company’s position as Mexico’s second-largest oil operator.
- What is the significance of Grupo Carso’s acquisition? This acquisition gives Grupo Carso control over one of the most productive private oil areas in Mexico, enhancing its position in the country’s hydrocarbons sector.
- What are some other notable ventures of Grupo Carso in the Mexican oil industry? Grupo Carso has also acquired stakes in the Zama field through its subsidiary Zamajal and is collaborating with Pemex on drilling services and reviewing deepwater gas projects.
