Second phase of Mexico's shallow water tender closes

By
Wednesday, May 27, 2015

The second phase of Mexico's shallow water tender for oil and gasfields has closed, with a total of 26 firms having qualified to bid.

Those companies are now eligible to present their budget proposals on July 15 for contracts for the 14 exploratory blocks in the Gulf of Mexico that are up for grabs, according to the hydrocarbons comisión (CNH).

Start your 15 day free trial now!

cta-arrow

Already a subscriber? Please, login

Among the firms that have qualified to bid are BHP Billiton, Cepsa, Chevron, Ecopetrol, ENI, ExxonMobil, Hunt Overseas, Galp Energía, Lukoil, Maersk, ONGC Videsh, Pacific Rubiales, Pan American Energy, Petronas, Premier Oil, Statoil and Total.

The second phase of the tender includes five contracts for shallow water extraction, covering an area of 281km2 and comprising nine fields, with reserves estimated at 356Mboe.

Total reserves in shallow water are estimated at 671Mboe, with production forecast to be 124,000b/d, according to the energy ministry (Sener).

In April, Sener published the technical and geographical specifications relating to the oil and gas blocks put out for tender in round one as part of the country's energy reform.

The data corresponds to onshore, shallow water and extra heavy oil reserves, as well as deepwater fields in the Perdido belt and the southern Gulf of Mexico, and unconventional fields for extraction of shale oil and gas.

The 183 blocks up for grabs in round one are expected to bring in US$12.6bn in annual investment, with US$4.48bn in total investment expected in shallow water alone over the next three years, Sener said.