Mexico held back-to-back licensing rounds on 12 July 2017 as part of the President Enrique Peña Nieto administration’s goal to lure private investment to the Latin American nation’s upstream.To use an American baseball analogy, Mexico knocked it out of the park each time and now Mexican oil and gas is gaining momentum.The duo-round system on 12 July encompassed a total of 24 blocks. By the end of the day, 21 blocks had been awarded.
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Source: Mexican Oil and Gas Gaining Momentum – Drillinginfo
Mexico will delay its next offshore oilfield auctions by a month, giving international bidders more time to evaluate recent major crude discoveries that highlight the potential value of the assets.A new billion-barrel find announced last week “confirms that the Mexican side of the Gulf of Mexico is very prolific,” said Juan Carlos Zepeda, Mexico’s chief oil regulator in an interview Friday. “International and national interest is awakening.”July 12 marked perhaps the single most successful day for the Mexico oil industry since the government ended Petroleos Mexicanos’s government-owned production monopoly in 2014. Premier Oil Plc, Sierra Oil & Gas and Talos Energy LLC reported a reservoir with an estimated 1.4 billion to 2 billion barrels of oil in the southern Gulf of Mexico. On the same day, Italian producer Eni Spa said its March find in Mexico’s offshore waters also contains the equivalent of as much as 1 billion barrels, and Mexico successfully auctioned 21 of 24 onshore fields to private companies.
Source: Mexico Delays Next Oil Auction to Let Huge New Find Sink In – Bloomberg