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Mexico reveals Round 3

Written by  Friday, 29 September 2017 09:56

Mexico’s National Hydrocarbons Commission (CNH) has issued a call for bids for the country’s Round 3, consisting of 35 shallow water areas in the Gulf of Mexico.

Image from iStock.

The 35 areas cover some 26,265sq km, and have a total of about 1.988 MMbo of prospective resources, with a remaining volume of 290 MMboe. They are to be developed through shared production contracts.

Round 3 includes 14 areas in Burgos, 13 area in Tampico-Misantla-Veracruz, and eight areas in Cuencas del Sureste.

The Burgos blocks cover an area of 8424sq km and hold an estimated 579 MMbbl.

The 13 blocks in Tampico-Misantla-Veracruz cover 12,493sq km, with an estimated 1.217 billion boe of prospective resources, in addition to a remaining volume of 193 MMboe.

The Cuencas del Sureste blocks cover 5348sq km, with prospective resources estimated at 192 MMboe, with a remaining volume of 96 MMboe.

“The bidding process of the shallow water contract areas of this Call makes it possible to ensure that the operating companies have proven experience and capacity for the optimum development of oil projects. To this end, various technical, financial, enforcement, safety, health and environmental protection requirements were defined, consistent with the highest industry standards at the international level,” the CNH said.

Earlier this week, Mexico signed 10 exploration and extraction contracts with bid round winners from this June's shallow water Round 2.1. The round offered a total of 15 blocks. 

The country’s first shallow water round was held in July 2015. Round One only awarded two area of the 14 offered.

Read more:

 

Mexico signs contracts from Round 2.1

Mexico's Round 2.1 awards 10 blocks

Mexico's bleak Round One ends

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