Mexico’s National Hydrocarbon Commission modified conditions for its upcoming auction of shallow water oil fields after a disappointing first round of tenders in which only two of the available 14 blocks were sold.
Attorney Carlos Ochoa said, “Although these changes are not the only factors that have to be taken into account, they are a positive step and will surely incentivize broader participation. It is important to recognize the regulating entity’s willingness to take action and adjust the criteria.”
READ: Mexico Modifies Bidding Rules to Reinvigorate Offshore Energy Auctions (subscription required)
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