Mexico's Energy Reform (Round One's Third Call)
12 May 2015May 11, the National Hydrocarbons Commission (CNH), approved Round One’s Third Call together with its Bidding Rules for onshore fields. This is the third call out of five for Round One and unlike the previous ones, License contracts would be used.
With an estimated total of 2.5bn boe, 26 mature fields comprising four states in the Gulf of Mexico will be tendered. These fields contain 3p reserves and their latest reported production is from January 2015. The southern fields having a recovery factor ranging from 1 to 50% and the northern fields of up to 80%.
Other major differences between this and the previous two calls are the technical experience requirements –which is now a matter of the personnel employed for the project and not of the company as a whole—, with the view to benefit the development of domestic oil companies; and the Data Room package content, which will include a physical visit to the blocks as well as information pertaining the socioeconomic conditions of the areas surrounding these fields.
Finally, the tendering guidelines will follow the same structure of the previous two, and will be published May 12, in both the Official Gazette and in Round One website (www.ronda1.gob.mx).
For further details, please contact Goodrich Riquelme.