Mexico to hold first unconventionals tender

MEXICO CITY, March 2, 2018 – Nine shale blocks will be auctioned on September 5, the president commissioner of Mexico’s National Hydrocarbons Commission (CNH) said on Thursday.

Speaking at a joint session that included representatives from the Secretariat of Energy, Juan Carlos Zepeda elaborated on the blocks, located in the Burgos Basin, across the northeastern state of Tamaulipas.

“The winner of this tender for licence contracts will have the right to explore and carry out activities at full depth, throughout the column, which includes shale formations and conventional sand formations,” Zepeda said.

Altogether, the blocks hold around 1.16 billion boe of unconventional oil and gas, as well as 53 million boe of conventional resources.

Deputy Secretary for Hydrocarbons Aldo Flores Quiroga said that regulators anticipate investments worth USD 2.43 billion as a result of the auction, which will be the third phase of Mexico’s Round 3 bidding process.

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