On September 14, 2015, the Ministry of Finance ("SHCP") issued a press release informing that the minimum percentages for the awarded variables of the Second Call of Round One (the "Call") have been determined. This Call was announced on February this year.
As a part of the economic conditions for such Call, increases in the minimum work program applicable to each block and the State's participation in the operating profit have been established as tender variables.
Considering the above, SHCP announced that the minimum required percentages of State participation in the operating profit for each block will be the following:
Click here to view table.
These minimum percentages have been set according to the Income Law for Hydrocarbons and take into account the particular circumstances of each of the bidding contractual areas, for the purpose of increasing the State income and obtaining greater long-term benefits.
The opening proposals and declaration of winners will take place on September 30, 2015.