Mexico’s Energy Industry, Results of Ronda Uno, Third Tender

Akin Gump Strauss Hauer & Feld LLP
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- On December 15, 2015, the Mexican Comisión Nacional de Hidrocarburos (CNH) completed the third stage of its so–called “Round One” upstream oil and gas auctions. It is estimated that these contract areas contain an estimated 2.5 billion barrels of oil equivalent (boe) distributed in multiple oil and gas fields.

- As a major shift from the first two tenders, the CNH used a license as the model contract to facilitate the entry of domestic participants and smaller IOCs.

- Overall, the results should be considered rather surprising. Despite extremely low commodity prices and an ailing oil and gas industry, almost 100 different companies expressed formal interest in taking part in the Third Tender and 71 companies (36 individual companies and 16 consortiums) prequalified to present bids.

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