Mexico - 06

Mexico: Round 2.1 Yields “Splendid Results”

Despite uncertainty over energy prices and domestic politics, Round 2.1 was quite successful, with contracts awarded for 10 out of 15 shallow-water blocks. Indeed, Secretary of Energy Pedro Joaquin Coldwell said that the first tender yielded “splendid results.” He estimated that the contracts will entail investments of $8.1bn throughout their 35-year duration, creating 82,000 direct and indirect jobs. According to Ministry of Finance (SHCP) Undersecretary of Revenue Miguel Messmacher, the round’s fiscal conditions will provide the state an average take of 74.7%, which could increase to 83.9% if oil prices rise, or even higher if sizeable new oil fields are discovered.

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