On 30 September 2015, Mexico held its second oil & gas auction, which will allow private companies to explore for oil & gas for the first time since the country nationalised the sector in 1938.
The tender of the second phase of Round 1 included 5 shallow water blocks for production sharing contracts for the exploration and extraction of hydrocarbons of the Gulf of Mexico, near Cantarell 1.
The National Commission of Hydrocarbons (CNH) awarded three blocks: the first, second and the fourth block.
As a result, 60 percent of the blocks were awarded, which proved more successful than the first auction, in which only two of the 14 blocks were awarded. After the first auction, CNH revised the contract terms and minimum profit-share percentages.
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