Mexico's National Hydrocarbons Commission (CNH) has awarded 19 exploration and production contracts under the fourth tender of oil and gas Round 2 (Licitación Pública Internacional CNH-R02-L04/2017). The 35-year contracts will have two possible extensions; a first extension of ten years and a further extension of five years. Around US$92.8bn in investments are expected from the lifetime of the projects, which have an estimated total resource potential of 2.8 Gbl. The successful bidders have a maximum period of 180 days (from date of award) to submit an exploration plan for each contracted area.
Of the 19 oil and gas deep-water blocks, six are in the Perdido Fold Belt (Northwestern Deep Gulf of Mexico), four are in the Cordilleras Mexicanas basin and nine are in the Cuenca Salina basin. State-run oil and gas company Pemex won 4 of the 19 blocks, either alone (blocks 5 and 18) or in consortia (block 2 with Shell and block 22 with Chevron and Inpex). Other successful bidders include Eni, Ophir Energy, Petronas Carigali, PTTEP, Qatar Petroleum, Repsol and Sierra Nevada E&P.
Do you want to become an expert on renewable energies auctions?
Discover our very detailed and regularly updated RES auctions database with worldwide coverage and a technical focus backed by academic research.
With our renewable energies auctions service you will be able to monitor auctions at a global level. Its (expanding) scope notably includes all major G20 countries and offers an especially fine tracking on Europe and South America.