The Evaluation, Certification and Approbation of Oil and Gas Reserves in Mexico; Facts and Performance

The evaluation, certification, approval and disclosure system of reserves applied in Mexico since 2010 aims to replicate the best practices of the international oil industry. It has gained rigor, simplicity, truthfulness and transparency, however its performance has been unequal: it has achieved to provide more certitude over the proved reserves but it has failed to dissipate the uncertainty over the probable and possible reserves.