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    Mexico plans international tenders

    News // May 6, 2014

    Broker Seabrokers reports that Mexico is expected to include a variety of different locations in its first international public tender for exploration and production activities within its mainland and maritime borders.

    This forms part of a landmark reform of the nation’s energy industry, which will see the end of the 75-year monopoly that the state-run oil company PEMEX has historically held over domestic exploration and production activities.

    Lourdes Melgar, the deputy minister for hydrocarbons in Mexico, was quoted by Reuters as saying that the first bid round will incorporate “two areas in deep waters, some areas of shale gas, some areas of the non-conventional Chicontepec (basin), and some areas in shallow waters.”

    This round will potentially pave the way for the entry into Mexico of a range of
    international oil and gas companies.

    The first bid round is expected to take place in mid-2015, although this could be brought forward to the latter stages of 2014.

    Subsequent bid rounds for oil and gas development rights are expected to be held on an annual basis until 2019, with each bid round incorporating an area of around
    20,000km˛.

     

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