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Mexico E&P auctions on hold until 2021: report

MEXICO CITY, November 21, 2018 – Mexico will not hold another bidding round for oil and gas blocks until 2021 to allow the government time to evaluate the results of operations under existing contracts, local media reported Tuesday.

 

“We are told that some [awarded blocks] will not start production until 2020, others until 2024 and others until 2026,” Rocío Nahle, Mexico’s next energy secretary, told local newspaper El Sol de México. “It would be irresponsible to continue delivering large areas of land through the award of contracts, if we do not even have an evaluation of results [from existing contracts]; we must wait.”

Whether or not Pemex farm-outs will continue will be up to the NOC, depending on the results of its current farm-out partnerships, Nahle said.

Regarding plans to build a new refinery in Tabasco, the future energy secretary said that a shortlist of companies with international experience would be invited to bid for the construction of the facility.

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