{"id":4764,"date":"2015-07-21T08:15:12","date_gmt":"2015-07-21T13:15:12","guid":{"rendered":"http:\/\/nrgibroker.com\/?p=4764"},"modified":"2016-10-04T14:32:07","modified_gmt":"2016-10-04T19:32:07","slug":"begins-a-new-era-in-the-mexicos-energy-industry","status":"publish","type":"post","link":"https:\/\/nrgibroker.com\/en\/begins-a-new-era-in-the-mexicos-energy-industry\/","title":{"rendered":"BEGINS A NEW ERA IN THE MEXICO’S ENERGY INDUSTRY"},"content":{"rendered":"

Two of the 14 shallow-water Gulf of Mexico blocks on offer in the first phase of Mexico’s historic Round One oil auction were awarded, both to a consortium featuring a domestic company.<\/strong>\"shutterstock_923929\"<\/a><\/p>\n

Mexico is starting small with its offer of shallow-water fields and onshore blocks this year and saving the big prizes – deep-water fields in the Gulf of Mexico – for later tenders.<\/p>\n

Both of the blocks awarded on Wednesday were won by a consortium made up of Mexico’s Sierra Oil & Gas, Houston-based Talos Energy and Britain’s Premier Oil plc.<\/p>\n

One of them covers a 194-sq.-kilometer (75-sq.-mile) area off the coast of the Gulf coast state of Veracruz and is projected to contain light oil and dry gas.<\/p>\n

The other covers a 465-sq.-kilometer (180-sq.-mile) area off the Gulf coast state of Tabasco and was contested by four other bidders: Norway’s Statoil, U.S.-based Hunt Overseas Oil Company, Argentina’s E&P Hidrocarburos y Servicios and a consortium made up of Italy’s ENI International and U.S.-based CASA Exploration.<\/p>\n

The other 12 blocks either received no bids or had offers that were below the minimum 40 percent of pre-tax profits demanded by Mexico’s Finance Secretariat.<\/p>\n

Eighteen individual companies and seven consortia had been pre-qualified for Round One’s first phase, but only nine registered on Wednesday and only seven submitted bids for at least one of the blocks.<\/p>\n

The initial batch of 14 Gulf of Mexico blocks – located off the coasts of Veracruz, Tabasco and Campeche states – were placed on offer in the first of five phases of Round One, which comprises a total of 169 onshore and offshore blocks.<\/p>\n

The second phase of Round One, in which nine shallow-water fields will be on offer, is scheduled to take place on Sept. 30, while the third phase consisting of 26 onshore blocks is to be held on Dec. 15.<\/p>\n

The final two phases of Round One still have no established timetable.<\/p>\n

Pemex, which obtained 83 percent of Mexico’s proven and probable reserves and 21 percent of its potential resources in a so-called “Zero Round” of non-competitive bidding last year, said last week it would not participate in the initial phase of Round One.<\/p>\n

Mexico’s government is looking to the energy overhaul to attract tens of billions of dollars in investment and reverse a roughly 30 percent decline in Mexico’s oil output, which peaked at 3.38 million barrels per day (bpd) in 2004 and currently stands at roughly 2.3 million bpd.<\/p>\n","protected":false},"excerpt":{"rendered":"

Two of the 14 shallow-water Gulf of Mexico blocks on offer in the first phase of Mexico’s historic Round One oil auction were awarded, both to a consortium featuring a domestic company. Mexico is starting small with its offer of shallow-water fields and onshore blocks this year and saving the big prizes – deep-water fields […]<\/p>\n","protected":false},"author":1,"featured_media":4763,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1016],"tags":[270,268,232,269,267],"class_list":["post-4764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ourcore","tag-nrgi","tag-oil-gas","tag-pemex","tag-public-auction","tag-sierra-oil-gas"],"_links":{"self":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/4764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/comments?post=4764"}],"version-history":[{"count":0,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/4764\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media\/4763"}],"wp:attachment":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media?parent=4764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/categories?post=4764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/tags?post=4764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}