Mexico to delay Round Two shallow-water auctions by three months
Mexico will delay its Round Two shallow-water auctions until June 19, 2017.
MEXICO CITY – Mexico will delay until June 19, 2017, the announcement of winners for the next phase of its oil and gas, the so-called Round Two tender, which includes 15 shallow-water areas in the Gulf of Mexico.
The delay is designed to allow more companies to take part and to incorporate modifications suggested by industry, Mexico’s Finance Ministry announced on Dec. 22, 2016.
“The adjustments meet Mexico’s interest to guarantee greater involvement of companies in this auction,” the ministry said in a statement. “The adjustments also include the recommendations of industry aimed at increasing competition and investment.”
Mexico had originally planned to announce the Round Two winners on March 22, 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 reportedly already shown interest in the shallow-water round, with 21 companies showing interest; eight of those have started the pre-qualification process. Those that have signed up to participate reportedly include Citla Energy, Chevron, ConocoPhillips, DEA, Premier Oil, Shell, Sierra Oil & Gas, and Statoil.