Mexico to launch shallow water tenders in November

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Tuesday, October 28, 2014

The first tenders for private firms to partner Mexican state oil company Pemex, in shallow water oil and gas extraction, will be launched in the first half of November, according to the energy ministry (Sener).

The bases for tenders for extra heavy crude projects will be published in the first half of December, while projects in the Chicontepec basin and in non-conventional extraction will be tendered in the first half of January, energy minister Pedro Joaquín Coldwell said in a release.

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Onshore and deepwater projects will be tendered in February and March, respectively.

The first contracts are expected to be signed between June and September 2015, and Mexico's energy reform will be fully implemented by the year's end, Coldwell said.

The 25 regulations of the energy reform will be published by the end of October, which concludes the reform's regulatory phase.

Round one will comprise 169 oil and gas blocks, 109 for exploration projects and the other 60 for production.

The round one of tenders in 2015 will be followed by two further rounds, and they are expected to attract a total US$50bn in investment by 2018.

BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.