Mexico shallow-water round rescheduled

MEXICO CITY, December 23, 2016 – Mexico’s National Hydrocarbons Commission (CHN) and the Ministry of Finance on Thursday announced they would be pushing back the timetable for the second shallow-water bid round.

In a joint statement, the two entities said the registration period would be extended by some two months to March 24 in an effort to reserve more time for the finalisation of the round’s terms and conditions, which will now be published on May 19. According to the CHN, the shallow-water bid round, dubbed Round 2.1, is scheduled for June 19.

“The changes serve the interest of the Mexican state to guarantee better participation of companies in this round, with the goal of increasing competition and investment, and recommendations made by industry,” the statement said.

Twenty-one companies have reportedly expressed interest for the 15 assets on offer, divided into 10 exploration blocks and five exploration and production areas. Water depth across the available acreage, some 8,900 square kilometres that is believed to contain 1.59 billion boe, ranges between 10 and 500 metres.

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