Mexico Limits Bids for Shallow Water Contracts
Oil companies bidding for contracts under an energy sector opening in Mexico will be limited to bidding on up to five shallow water areas, the country's hydrocarbons regulator said on Thursday.
The National Hydrocarbons Commission also said that no operator can take part in more than one consortium on the first round, as it set out a series of rules and requirements for prospective bids.
The first round of contracts are for 14 shallow water areas featuring significant deposits of light crude oil and will pay winning firms with a share of output from projects that Mexican regulators said on Wednesday feature average production costs of about $20 per barrel.
(Reporting by David Alire Garcia)
February 2024
