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Mexico delays shallow water round

By  Thursday, 22 December 2016 20:12

Mexico is delaying the country’s shallow water bid round, Round 2.1, by three months in a move that regulators hope will garner more participation, increased competition and investments.

Image of Mexico's deepwater round, from CNH.

The new date for Round 2.1 is 19 June 2017, nearly three months later than the original 24 March date. Final decisions are still in the works, according to Mexico’s National Hydrocarbons Commission (CNH) and Energy Ministry (SENER), however, they will be made available on 19 May 2017.

Mexico’s shallow water round consists of 15 areas in the Gulf of Mexico in Tampico-Misantla, Veracruz and Cuencas del Sureste.

According to CNH and SENER, the recommendations and changes were made to serve the interest of the Mexican State to ensure greater participation of companies in this tender, in order to increase competition and investments.

Several international companies have already shown interest in the shallow water round. As of last week (16 December) 21 companies have shown interest. A total of 16 companies have accessed the data room, and eight companies have started the pre-qualification process.

Those that have signed up to participate include: Citla Energy, Chevron, ConocoPhillips, DEA, Premier Oil, Shell, Sierra Oil & Gas, and Statoil.

Earlier this month, Mexico caught international attention with its highly anticipated and highly successful deepwater round, Round 1.4. A total of eight out of the 10 blocks were awarded, marking a drastic and welcomed change when compared to its very first and bleak Round One in July 2015 that only showed one winner of two areas.

Read more:

Mexico's deepwater round ends in success

Mexico's Round One, phase two "a success"

Mexico's bleak Round One ends

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2018-09-20 03:48:32am