Mexican authorities have postponed by three months when it will announce the winners of the next round of its oil and gas rights tenders, which are offering 15 shallow-water areas in the Gulf of Mexico.
The first phase of the so-called Round Two tender was originally planned for March 22, 2017 but will now be delayed to June 19.
In announcing the postponement Mexico’s finance ministry said the purpose was to allow more companies to participate and to implement some changes to the process.
Since 2013 Mexico’s government has been phasing in an energy sector reform plan to improve efficiency and productivity in the oil and gas industries.
The centrepiece of the plan has been measures to weaken state oil firm Pemex’s monopoly position in the domestic industry by opening E&P opportunities to private and foreign companies.
Earlier this month, Mexico’s first competitive deep-water auction was a big hit with eight of 10 blocks awarded and major international firms participating.