Mexico to put up licences for bid
MEXICO CITY, November 15, 2016 – Mexico’s National Hydrocarbons Commission (CNH) will put 14 onshore licences up for bid, the regulator said on Monday. The awards are scheduled for July 2017.
The exploration and production areas are spread across the Burgos, Tampico-Misantla and Southeast basins, as well as Veracruz. Bidders can expect light oil and gas in the five Southeast basin areas included in the tender. The other fields hold both rich and lean gas, we as well as crude and condensates.
Without elaborating, CNH Commissioner Héctor Acosta said that one of the blocks would come with the obligation to enter into an agreement with Pemex, as it is located a cross-border area. The state-owned company is required to hold a share of at least 20% in such licenses.
Acosta also cautioned that work in the Tampico-Misantla risks impacting conservation areas and thus might necessitate companies to take additional measures to minimise the impact of operations on the environment.
The 14 licences up for auction constitute phase three of Mexico’s Round Two tender.