On May 12, 2015, Mexico's National Hydrocarbons Commission (Comisión Nacional de Hidrocarburos) ("CNH") announced a third auction for oil- and gas-producing blocks. The third auction, which the CNH considers to be part of the previously announced Round One, will be a public bidding process that will be open to private companies, including foreign companies.
Unlike the blocks included in the first two auctions of Round One, which will be developed under Production Sharing Contracts, the blocks awarded during the third auction will be developed under License Agreements that feature similar terms and conditions to concessions. The 26 blocks included in the third auction are located in Coahuila, Tamaulipas, Veracruz, Tabasco, and Chiapas. They include nine gas fields with surfaces ranging from approximately 16 km2 to 60 km2. The depths of the contract areas range from 500 meters to 6,900 meters.