The News – Capital Media
The News – Capital Media
  • Pemex Sets Date for Phase Four of Round One Contracts

  • The contract bidding is set for December 5 of this year

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26 of February 2016 17:34:37

MEXICO CITY –After launching the call for contract bidding last December, the date for Phase 4 of Round One is scheduled for Dec. 5, the National Hydrocarbons Commission (CNH) reported.The regulating organization approved the auction known as the "crown jewel" that takes place on Monday, Dec. 5, to be issued on Dec. 7.The regulator announced that there are nine registered interests so far, large oil companies with international operations, which in some cases are resorting to alliances to push for a contract.[caption id="attachment_2230" align="alignright" width="300"]Signage for a BP petrol station is pictured in London July 29, 2014. BP slumped to its worst annual loss in over 20 years in 2015, the British oil and gas company announced on Tuesday, and said it would cut thousands more jobs in the face of a deep rout in oil prices. The company, which is still grappling with the huge costs from the deadly 2010 Gulf of Mexico oil spill, said it would cut 7,000 jobs by 2017, nearly 9 percent of its workforce. REUTERS/Luke MacGregor Signage for a BP petrol station is pictured in London July 29, 2014. Photo: Reuters/Luke MacGregor.[/caption]The bidders are British Shell and BP, Total of France, Chevron, Exxon Mobil and Hess of the United States, Stat Oil of Norway, Atlantic Rim, and Australia's BHP Billiton.This stage, the most attractive so far, representing investments of 44 billion dollars, and proposes to the private initiative 10 fields involving exploration and extraction in deep and ultra-deep waters.The twelve licencing contracts will last between between 35 and 50 years.The date had been established by the Energy Secretariat, considering that the drastic fall in the value of oil would affect the success of the bid."We are taking time to analyze how the turbulent oil market is evolving, to find the right date in the best conditions for the auction," said Energy Secretary Pedro Joaquín Coldwell.

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