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Northcote Energy's Mexico plans get a boost with appointment

Published: 08:03 08 Apr 2015 BST

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Northcote Energy (LON:NCT) is advancing its plans for Mexico - as its executive vice president for the country has been appointed to an important US industry body.

Abraham Achar, who joined Northcote last month, has been appointed president of the Latin American Oil & Gas Association (LAOGA) for Dallas, Texas.

He will work to introduce US based companies to the opportunities opening up in Mexico and Latin America generally.

It comes after Northcote last month signed up a new Mexican partner, Gaia Ecologica, in a framework agreement, setting up the new partners to pursue new opportunities in Mexico’s oil and gas industry.

The two companies are expected to take on multiple projects together ranging from oil field services to oil and gas development concessions and will work to secure contracts and projects.

It comes after Mexico’s government opened-up the country's oil and gas industry, enabling international companies to invest in the country for the first time in a number of decades.

Achar said he was delighted by his appointment.

"As demonstrated by our exposure to Mexico through our agreement with MX Oil plc and more recently Gaia Ecologica we believe that Mexico holds significant opportunities to generate value for our shareholders, and I believe that my work on behalf of LAOGA will compliment my efforts for Northcote in Mexico."

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