Round 2.4 in Mexico for Gulf of Mexico deep-water blocks

On January 31st 2018 the National Hydrocarbons Commission (CNH) of Mexico broadcast online the opening of proposals on 29 deep-water blocks in the Mexican portion of the Gulf of Mexico. The round 2.4 included contractual areas within 3 deep-water zones in the Gulf, each with distinctive sedimentary conditions. The results on this round were successful with the 65.5% of the available area assigned to interested enterprises, and is the bidding process that has triggered the greatest amount of investment until now. Shell obtained 9 of the 19 assigned blocks in the Perdido Fold Belt and Salina del Istmo provinces.
The highest allocation rate and competition were for blocks in the Salina basin, with a 90% rate of assignation. The highest competition was for the 29th block, where Repsol in consortium with PC Carigali, Sierra Nevada and PTTEP offered the maximum value on additional royalty, as well as 1.5 investment factor that represents the drilling of 2 exploration wells and a cash payment above USD 151 million. By the end of the 2.4 bidding Round, the Energy Secretary (SENER) estimates the long-term investment that has been triggered with the eight past bidding processes, could exceed USD 150 billon.

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Irene Hernández  Irene Hernández 
Socia Líder de la Industria Oil & Gas
Tel: 01 55 5263 6000