Hydrocarbons regulatory CHN announced today it would delay Round 2.4, scheduled for December, until Jan. 31, 2018 to give companies time to analyze the recent discoveries at Zama-1, Amoca-2 and Amoca-3. Thirty blocks will be bid during Round 2.4. The regulatory also said a new rule would apply to the rounds: if both maximum added investment and royalty are offered, an economic offer must be included in the same envelop.
During session broadcast live on its website, CNH discussed and approved the bidding basis for round CNH-R02-L04/2017 on deepwater.
Here are the highlights:
- The bidding has been postponed from December 2017 to Jan. 31, 2018 to allow for international players to include the recent major discoveries done last week into their bidding strategies.
- The bid will include 30 deepwater blocks: nine in the Perdido area, 10 in the Cordilleras Mexicanas, 10 in the Cuenca Salina and one in the Plataforma de Yucatan.
- Companies will be granted access to the data room from July 20 to Nov. 3, 2017. The prequalification of participants will be done from Nov. 11 to Dec. 15. The list of prequalified participants will be published on Dec. 20, 2017. Finally, the official presentation and opening of proposals will be carried out on Jan. 31, 2018
- A new rule was announced. Bidding companies must include a direct economic offer on their bidding envelop every time they offer the maximum added royalty and additional investment. This is in contrast to the previous scheme of having a different second envelop with this economic offer only.
The Commissioners added that the bidding basis for CNH-R02-L04/2017 will be published soon on the Ronda Mexico website.
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