Pemex says oil sector reform could be "crippled" if it is watered down to to exclude deep water oil drilling to foreign partners. Mexico's first deep sea wells have not found oil, and if reform talks to allow foreign partnerships fail, it could be 20 years before it produces any crude from deep waters, monopoly Pemex said in Mexico CIty at the 2008 Reuters Latin American Investment Summit. Exploration and Production chief Carlos Morales said a planned oil sector reform would be "crippled" if it is watered down to exclude opening up deep water oil to experienced foreign partners, as many opposition lawmakers seek. (Interview in Spanish) Speaker: Carlos Morales, Director, Pemex Exploration and Production English Translation: "I can see and hope that it's approved (Pemex reform). I think that it's a recognition proving that the company is able to manage its own business. Even by giving it financial resources and other legal capacities, if capacity of self-management that every company has, or should have, is not given, well it would be crippled (the reform)." "Of the six exploration wells we have drilled, natural gas was found in only four of which one is very important. We haven't found oil, we moved to a location called Tamil and we have more certainty that we will find oil."
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April 2008 
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