Opinion

Delaying Mexico’s 2018 Bidding Rounds is a Smart Move by CNH, Says GlobalData


Following the news (Wednesday 18th July 2018) that Mexico's hydrocarbons agency re-scheduled bidding rounds 3.2, 3.3, and onshore farm-out round for February 2019, which was originally planned for the second half of 2018,

Adrian Lara, Senior Oil and Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the impact on the upstream sector:

“With this move, National Hydrocarbons Commission (CNH) allows time for more reassuring signals from the current transition team to be sent to private and foreign investors. This should counter the business unfriendly fears created during the campaign. By delaying the rounds the agency is playing within its institutional space to secure continuity in the bidding without directly contradicting the new president's message of reviewing upstream contracts.

“The uncertainty generated by the 2018 electoral campaign negatively impacted the interest in these three rounds. In particular for Round 3.2, there should have been more interested companies since these areas are quite similar to the successful round 2.3, but with almost three times more blocks. The farm-out round is quite important for Pemex and to date it only had six interested companies.

“During the last three years CNH has been quite successful in adapting its scheduled rounds to make them more attractive and increase their chances of success. The agency has been highly transparent and has incorporated industry and government feedback in an effective and autonomous manner. By delaying these 2018 rounds, it allows more time to attract other companies to participate and it lets the next administration play their role if they want to review and provide feedback on the contract's terms.”    


Visit source site

https://globaldata.com/media-centre/?_sft_by-type=...

GlobalDataMexicoBidding RoundCNHHydrocarbon

More items from oilvoice


Petrofac Appoints Chief Digital Officer

Petrofac has appointed Fady Sleiman Chief Digital Officer as the oilfield services company continues its digital transformation. Fady joins from MENA investment company Waha Capital, where he was Chief Information Officer/Group Head of IT for the Abu Dhabi based company from 2014. Prior to that ...

OilVoice Press - OilVoice


Posted 8 hours agoPress > PetrofacAppointmentChief Digital Officer

Churchill Drilling Tools: North Sea Operator Cuts Rig Time Using Churchill Circulation Tool For Hole Cleaning and BOP Jetting

Operator saves more than six hours rig time and eliminates an extra trip in hole using dart activated DAV MX™ Circulation Sub Operator benefits from DAV MX™'s resilience and versatility through hole cleaning and BOP jetting on recent exploration well Churchill's technology to be showcased a ...

OilVoice Press - OilVoice


Posted 8 hours agoPress > North SeaChurchill DrillingDrilling +1

NPD: Delineation of the 15/3-4 (Sigrun) Oil and Gas Discovery Near the Gudrun Field in the North Sea – 15/3-11

Equinor Energy AS, operator of production licence 025, has concluded the drilling of appraisal well 15/3-11 on the 15/3-4 (Sigrun) oil and gas discovery. The well was drilled about 10 km southeast of the Gudrun field in the North Sea, and about 225 km west of Stavanger. The objective of the well ...

OilVoice Press - OilVoice


Posted 9 hours agoPress > NPDNorwayNorwegian Petroleum Directorate +11

NPD: Production Figures July 2018

Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June. Total gas sales were 10.8 billion Sm 3 (GSm 3 ), which is an increase of 1.5 GSM 3 from the previous mo ...

OilVoice Press - OilVoice


Posted 9 hours agoPress > NorwayNPDNorwegian Petroleum Directorate +6

Range Resources: Trinidad Operations Update

Range, an international oil and gas company with assets in Trinidad and Indonesia, and an oilfield services business in Trinidad, is pleased to provide an update with respect of its Trinidad operations. Infrastructure upgrade programme Range is pleased to advise that it has commenced the sale ...

OilVoice Press - OilVoice


Posted 9 hours agoPress > Range ResourcesTrinidadOperations Update +3
All posts from oilvoice