- Title: Mexico to launch two new oil tenders for 2018, additional auction this year
- Date: 2nd March 2017
- Summary: VERACRUZ, MEXICO (FILE) (REUTERS) VARIOUS OF PEMEX GULF PLATFORM WORKER AT PLATFORM MACHINERY AT PLATFORM WORKER LOOKING AT MONITOR MONITOR WITH SURVEILLANCE OF OPERATIONS AT PLATFORM
- Embargoed: 16th March 2017 21:23
- Keywords: Pemex oil Mexico tenders
- Location: MEXICO CITY AND VERACRUZ, MEXICO
- City: MEXICO CITY AND VERACRUZ, MEXICO
- Country: Mexico
- Topics: Government/Politics
- Reuters ID: LVA002669PW77
- Aspect Ratio: 16:9
- Story Text: Mexico announced on Thursday (March 2) that it plans to hold two oil tenders in 2018 and an additional one to the three planned for this year, as part of the opening of the sector seeking to shore up the country's declining oil production.
At a news conference in the capital, Mexico's Ministry of Energy (Sener) told media that in addition to this year's Round Two auctions - the 2.1 area in shallow water and the 2.2 and 2.3 areas of land - there will be an additional one in December in areas of deepwater of the Gulf of Mexico, as well as unconventional landfills.
Aldo Flores, Mexico's Deputy Energy Minister for Hydrocarbons, said in a news conference that Sener's plan is to develop two annual tenders since 2018: One in the first semester in areas of shallow waters and of conventional terrestrial fields, and another in the second semester of areas in deep water and unconventional terrestrial.
"There will be two tenders per year. Our approach is that in the first semester we will have a tender of shallow water and conventional land and in the second semester of deep and terrestrial, unconventional," he declared.
Mexico, whose oil production has been steadily declining in recent years to around 2.0 million barrels per day (bpd), opened the once-reserved hydrocarbons sector more than two years ago in search of investments to increase its crude oil production and gas.
"This year, we would have the tender 2.4 of deep and unconventional terrestrial water. Starting today, we open the denomination process of all blocks-- whether deep, shallow, terrestrial or non-conventional-- and in three months we will announce the call for this bidding," added Flores.
Flores also announced that the first tender of Round 3, 3.1, and blocks in shallow waters and conventional land would also be in February 2018, while the 3.2 of areas in deep water and unconventional land would occur in October.
After that opening, which stripped its state-owned Pemex monopoly, the country has launched several oil tenders that have allowed it to sign almost 40 contracts with about 50 new partners to explore and exploit various areas. - Copyright Holder: FILE REUTERS (CAN SELL)
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