Mexico changes bidding rules for oil and gas exploration
Mexico’s National Hydrocarbon Commission (CNH) has agreed to make a number of changes to bidding rules for oil and gas exploration.
The amended rules apply to the second tender of round one for shallow waters.
Law firm Von Wobeser y Sierra said the changes have been made to generate more interest and investment, following the disappointing results of the first tender for shallow water exploration projects.
The modifications also take into account the current economic environment affecting the oil and gas sector.
However, currently the changes will only be applied in the bidding rules of the second tender and do not affect the third tender relating to mature land fields, Von Wobeser y Sierra said in a statement.