Mexico Projects Part III: Round Zero

As a follow-on to our client alerts “México Projects: Get Ready, Get Set . . .” and “México Projects Part II: Off to the Races!,” this alert summarizes one of the next steps of the Constitutional reforms opening both the oil and gas and electricity sectors to private investment: the kickoff of so-called Round Zero. Round Zero is PEMEX’s opportunity to identify assets it wishes to exploit following the implementation of the reforms.

Round Zero has two main goals. The first is to make Petróleos Mexicanos (PEMEX) an “empresa productiva del Estado” (a productive State enterprise). The second is to increase the investment in exploration and extraction of oil and natural gas in Mexico through tenders. Specifically, Round Zero is the process through which the Mexican Government will assign to PEMEX certain assets and exploratory areas. Prior to the Constitutional reforms, PEMEX was charged with the exploration of the entire Mexican territory.

Please see full memo below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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