Carlos Slim Acquires 100% of Fieldwood Mexico

and finalized via a binding agreement with Russian oil company Lukoil International, the previous owner of Fieldwood Mexico. In addition to the purchase price, the Mexican conglomerate will assume a debt of $330 million that the company owes to Lukoil itself, which significantly elevates the strategic and financial value of the operation.

A Strategic Operation for Carlos Slim’s Portfolio

The acquisition of 100% of Fieldwood Mexico B.V. represents a decisive step in Grupo Carso’s long-term strategy within the hydrocarbons sector. With this purchase, the conglomerate gains full control of the Ichalkil and Pokoch fields, known as Contractual Area 4, a zone located in shallow waters of the Gulf of Mexico, off the coast of Campeche. Prior to this transaction, Fieldwood Energy E&P México held a 50% stake in these fields, while the other 50% belonged to Mx Dlta NRG 1, S.A. de C.V., a company that previously operated under the name Petrobal Upstream Delta 1 and was acquired by Grupo Carso in June 2024. With both moves, Carlos Slim’s business group now controls 100% of the project.

From a business perspective, the operation allows Grupo Carso to:

• Consolidate total ownership in strategic oil assets.
• Strengthen its position as an operator in exploration and production projects.
• Leverage operational and financial synergies in a complex energy environment.
• Increase its exposure to long-term assets with productive potential.

What Does the Fieldwood Mexico Acquisition Include?

The transaction announced to the BMV is not limited solely to the acquisition of a corporate name. The agreement includes the purchase of Fieldwood Mexico B.V., a company that directly and indirectly holds Fieldwood Energy de México and Fieldwood Energy E&P México. These entities are key to the operational structure of Contractual Area 4, as they concentrate the rights and obligations of the exploration and production contract under a shared production scheme. In addition to the $270 million payment for the share capital, Grupo Carso will assume a debt of $330 million that Fieldwood owes to Lukoil, reflecting the financial complexity of the operation and the Mexican group’s commitment to the long-term viability of the project.

Ichalkil and Pokoch Fields: The Key Asset in Campeche

The true appeal of Fieldwood Energy E&P México lies in the Ichalkil and Pokoch fields. Both reservoirs are part of Contractual Area 4, one of the zones awarded during the first phase of tenders following the energy reform promoted during the administration of former President Enrique Peña Nieto. On January 7, 2016, the Mexican government, through the National Hydrocarbons Commission (CNH), signed contract CNH-R01-L02-A4/2015 with a consortium comprising Fieldwood Energy E&P México as the operating partner and Petrobal Upstream Delta 1 as the financial partner. The contract was established under a shared production model. Over time, these assets have gained relevance due to their productive potential and strategic location in shallow waters, which reduces operational costs compared to deep-water projects. Key attributes of Contractual Area 4 include:

• Location off the coast of Campeche.
• Proximity to existing oil infrastructure.
• Lower extraction costs compared to other projects.
• Medium and long-term production potential.

Pending Regulatory Approvals for Carlos Slim

Although the agreement has been officially announced, the transaction is still subject to obtaining various regulatory approvals. Among the most relevant are:

• Approval from the National Antitrust Commission (CNA).
• Authorization from the Ministry of Energy (Sener).
• Express and specific authorization from the U.S. Office of Foreign Assets Control (OFAC).

This last point is particularly relevant due to Lukoil’s Russian origin, in an international context marked by economic sanctions and increased scrutiny of cross-border operations in the energy sector. Grupo Carso must comply with these requirements to formally close the operation and fully exercise operational control of the assets.

Carlos Slim’s Vision in the Energy Sector

Carlos Slim’s involvement in the energy sector is not new, but it has gained significant momentum in recent years. Through Grupo Carso and its subsidiaries, the businessman has increased his participation in projects linked to infrastructure, energy, and natural resources. The acquisition of Fieldwood Mexico is part of a series of strategic moves aimed at:

• Diversifying the group’s revenue streams.
• Investing in capital-intensive sectors with long-term returns.
• Capitalizing on opportunities arising from energy liberalization and market reconfiguration.

From a business perspective, the operation also sends a clear signal to the market regarding Grupo Carso’s confidence in Mexico’s energy potential, even within a challenging regulatory environment.

You may also read:

The post first appeared on Líder Empresarial.