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- Jaime Caballero
The COVID-19 pandemic has created an increasingly challenging environment, causing greater focus on ESG issues and quickening the pace of the energy transition. This has had a direct impact on investments in the E&P arena, with investors placing greater scrutiny on traditional oil and gas projects, while encouraging companies to divert capital to more low-carbon pursuits. But even as the energy transition moves forward, Latin America finds itself at the center of some of the world’s hottest exploration plays and best E&P development opportunities, forcing the region’s local governments, NOCs, and regional E&P companies to look for new ways to keep projects profitable in a pressured upstream environment. What does energy transformation mean for Latin American upstream? What steps are companies taking to both respond to these changing market pressures and to ensure the survivability of their portfolios? What role is technology playing in their transition process?