The Mexican National Hydrocarbons Commission (CNH) has awarded 16 of the 35 oil and gas blocks tendered in March 2018 under the framework of the oil and gas Round 3.1 (Licitación 1 de la Ronda 3). The state-run oil and gas company Pemex won 7 of the 16 blocks, either alone or in consortia. Other selected companies include Premier Oil, Cepsa, Repsol, Eni, Total, BP, Lukoil, Shell and DEA (Deutsche Erdoel México).
Around US$8.6bn in investments are expected from the projects, with early production starting in 2022 and a production potential of 280,000 bbl/d according to the Ministry of Energy. The shallow waters licensing rounds have also seen a steady increase in interest in the previous rounds. 2 out of 14 areas were awarded in Round 1, while 3 out of 5 in Round 1.2 and 10 out of 15 in Round 2.1. This bidding round is the last before the 1 July 2018 presidential election in Mexico, which could see the new president review the terms of the contracts awarded under the energy reform.
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