Mexico - 02

Mexico: CNH Modifies Round One Terms

On 29 May CNH announced that the terms for the first phase of contracts for Round One covering shallow water and exploration had been revised. According to an official statement issued by CNH, the modifications are based on international best practices and aim to increase competition in the bidding process. Notably, several changes were made to bidding guidelines. First, an operator is no longer required to have the highest participation interest in a consortium. This will allow prequalified bidders to modify their structure, but an operator should still have at least 30% participation interest. Second…

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