The Mexican National Hydrocarbons Commission recently published the public tender CNH-R03-L03/2018 with the description and guidelines to participate in a bidding process for the award of contracts for exploration and production activities in unconventional onshore blocks in the Burgos Basin, located in the State of Tamaulipas, Mexico.
Main Aspects:
· Foreign companies may participate in the tender, either as operators, non-operators, or through joint ventures with other foreign or Mexican companies.
· The nine blocks to be awarded cover a total area of 2,704 km2 (approx. 668,173 acres).
· Each block has an average area of 300 km2 (approx. 74,131 acres), and would be awarded to the winner under the contractual structure of a License Agreement.
· The term of the License Agreement is 30 years with two possible extensions of five years each.