Mexico Round 3.1 bidding terms set
Mexico 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.
Recent Posts
Chariot starts gas drilling campaign in Morocco
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone acquires Trinidad E&P player Trinity
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil “optimistic and pushing forward” with Mozambique’s Rovuma LNG
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
SLB OneSubsea, Subsea7 sign long-term deal with Equinor
SLB OneSubsea and Subsea7 have signed a long-term strategic collaboration agreement with Equinor and begun work on two of its… Read More
Presight AI takes 49% stake in ADNOC energy AI player
Presight has acquired a 51% shareholding in AIQ, an energy-focused AI player founded by ADNOC and G42, the companies announced… Read More
Wood wins TotalEnergies North Sea flare recovery work
UK engineering contractor Wood has been awarded a decarbonisation project by TotalEnergies to support flare gas recovery in the North… Read More