MX to join Mexico’s licensing round

Mexico

MEXICO CITY, October 5, 2015 – London-listed MX Oil and Mexican services provider Geo Estratos have submitted bids as a joint venture to participate in the third phase of Mexico’s upcoming onshore licensing round.

MX also announced that it has submitted its pre-qualification application to the National Hydrocarbons Commission, the regulatory agency for the country’s oil and gas industry.

“We intend to lodge bids for all five concessions which match our investment criteria: onshore conventional fields with existing discoveries requiring development, as well as mature fields in need of secondary interventions to enhance hydrocarbon recovery rates,” Stefan Olivier, MX’s CEO, said in a company statement on Monday.

The third phase of Mexico’s bidding round will include 25 onshore contracts in the states of Chiapas, Nuevo Leon, Tabasco, Tamaulipas and Veracruz. The results of the tender will be announced in November and the concessions will be handed out in December.

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