Mexico Round 3.1 bidding terms set
MEXICO CITY, February 28, 2018 – Maximum royalty for blocks offered in Mexico’s upcoming Round 3.1 has been established at 65%, the country’s Secretariat of Finance and Public Credit (SHCP) announced on Tuesday.
In areas containing non-associated gas, the SHCP has set the royalty floor at 8.5%, while the minimum for oil blocks with associated gas is 22.5%.
“Considering all the economic elements included in the contractual and tax framework, the state will receive a proportion of the total project profits in line with international practices for the exploration and development of areas with characteristics similar to those that will be tendered,” the SHCP’s statement said.
Round 3.1, scheduled for March 27, will offer 35 shallow-water oil and gas blocks across Mexico’s Burgos, Tampico-Misantla, Veracruz and Southeastern basins.