Insight

Mexico's Round One - shallow-water development results: a step in the right direction

13 October 2015

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13 October 2015

Mexico's Round One - shallow-water development results: a step in the right direction

Report summary

On 30 September 2015, the second phase of Mexico's Round One concluded. The closing was a success, exceeding government hopes that two out of the five areas would be awarded. The results were in line with our expectations, which we based on the government's clear willingness to learn from mistakes made in the first phase as well as eagerness to incorporate industry feedback.

Competitive bidding environment
Winners' Mexico strategies
- Amoca-Mizton-Tecoalli: aggressive bidding gives ENI a foothold in Mexico
- Hokchi's upside potential leads PAE to bid twice the minimum work commitment
- Ichalkil-Pokoch: a single bid leaves plenty on the table
Conclusion

Tables and charts

This report includes 7 images and tables including:

Bids per company by area
Government profit share bids by company for AMT
IRR for the awarded areas based on winning profit share bids

Breakeven price for AMT per company profit share bid
Upside scenarios for AMT based on higher well productivity and lower costs
IRR effect in case of new Hokchi discoveries
Upside scenarios for Ichalkil-Pokoch based on higher well productivity and lower costs