Mexico announced it plans to launch two tenders in 2018, in additionto the three tenders planned for this year as part of the energy sector’s opening, and in hopes of boosting Mexico’s declining oil production.
The Secretariat of Energy (Sener) presented an update to its five-year E&P plan for 2015-2019. In a press release, the Sener highlighted that it would bring certainty to the national and international industry.
Four private companies reported crude production in Mexico. Canamex Energy Holdings, Diavaz Offshore, Renaissance Oil Corp. (CVE: ROE)and Lifting de México are the first private companies to extract Mexican oil since 1938.
Pemex, Chevron (NYSE: CVX) and Inpex (TYO: 1605) formed a consortium to bid in round 1.4. This was the first time the NOC formed a consortium to bid for a block in Mexico. The three companies signed an E&P contract, according to a press release.