Mexico Delays Next Phase of Oil & Gas Auctions by Three Months

Source: Reuters 12/22/2016, Location: South America

Mexico will delay until June 19 the announcement of winners for the next phase of its oil and gas sector opening to allow more companies to take part and to incorporate modifications suggested by industry, the Finance Ministry said.

"The adjustments meet Mexico's interest to guarantee greater involvement of companies in this auction," the ministry said in a statement. "The adjustments also include the recommendations of industry aimed at increasing competition and investment."

Mexico had planned to announce the winners of the first phase of the so-called Round Two tender, which includes 15 shallow water areas in the Gulf of Mexico, on March 22.

Earlier this month, Mexico auctioned off various deep water oil fields to investors from around the world, part of its drive to bring private sector capital into the industry.


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