The Mexican Senate just approved the secondary legislation. The final product is promising given its market-friendly approach. With the passing of the governing laws of the Energy Reform, the focus now shifts to Round Zero and subsequent licensing rounds.Round Zero has a mid-September deadline and will set the landscape for the upstream sector in Mexico.We believe that the first licensing round will offer JV opportunities with Pemex
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This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.
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This regime will apply to all assets that are awarded in future licensing rounds, post-Round Zero. We expect that specific fiscal terms will be announced on a round-by-round basis in order to give CNH maximum flexibility. According to the new Hydrocarbons Revenue Law, the bidding terms will include several variables, potentially including work commitments, signature bonuses, and additional royalties. The application of these variables will depend on the specific contract type used.
In this report there are 3 tables or charts, including:
The upcoming rounds
A new fiscal regime
Approved deduction limits for Pemex's asignaciones
The future of Mexico's upstream sector takes shape: Table 2
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Insight | Aug 2014
The future of Mexico's upstream sector takes shape
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