According to its recent Press Release 041, the Ministry of Energy, in conjunction with the National Hydrocarbons Commission, plans to increase substantially the number of areas offered in future oil tenders.(1) This will increase national production of oil and gas, as well as future reserves. In addition, Energy Secretary Pedro Joaquín Coldwell has stated that it will help to consolidate Mexico as one of the world's most attractive investment destinations in the hydrocarbons field.

At the Mexican Hydrocarbons Association's 2017 inaugural National Oil Convention, Coldwell stated that there will be three more tenders under the existing government administration:

  • Round 2.4 will be for deep water and non-conventional land areas.
  • Round Three will then begin, which will include two tenders: one for shallow waters and non-conventional land areas and one for deep water and non-conventional land areas.

For further information on this topic please contact Luis Roberto Ruiz Munguía at Ibáñez Parkman y Asociados SC by telephone (+52 55 5250 5912) or email (roberto.ruiz@iparkman.com.mx). The Ibáñez Parkman y Asociados SC website can be accessed at www.i-parkman.com.

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Endnotes

(1) Further information is available here.