Mexico bid Round 3.1 live coverage today

TOGY will livestream Mexico’s Round 3.1 bidding process on March 27, in partnership with the National Hydrocarbons Commission (CNH).

The coverage is now over, thanks for watching.

Building on the momentum of the country’s previous two bidding rounds, oil and gas regulators will auction 35 shallow-water fields containing an estimated 1.99 billion boe across the Southeastern, Burgos and Tampico-Misantla-Veracruz basins. This offering accounts for around 70% of the shallow-water resources the Secretariat of Energy has designated in its Five-Year Exploration & Production Plan.

A total of 30 companies have prequalified to compete in the auction, including super-majors BP, Chevron, ExxonMobil and Shell, as well as previous round winners and several newcomers looking to establish a foothold in Mexico’s recently liberalised upstream sector.

“Companies see enormous potential in the areas that are being tendered, which are, in many respects, virgin territory,” Juan Carlos Zepeda Molina, CNH president commissioner, told TOGY. “The Mexican side of the Gulf of Mexico is less explored than the US side, and from what we know of the American side, expectations are very high for finding productive resources here.”

Use the map below to see the location and data availability for licences on offer in the bid round. The map will be updated to show awarded blocks following the completion of the tender.

For more maps and data on the Mexico market sign up to our business intelligence platform TOGYiN.