Mexico's Round 2.2 auction attributes 12 blocks, gas potentialPosted by Byskov Dickson on February 24th, 2021 A total of 12 onshore oil and also gas blocks will be on deal in the second public auction of Round 2 of Mexico's energy reform, the energy ministry announced Tuesday. The blocks include 39 areas that have already been discovered. In all situations, licenses will get on deal. A total amount of 9 of the blocks hinge on the Burgos Container, across the United States boundary from Texas, as well as the nation's major resource of non-associated gas. Manufacturing of gas from Burgos has actually fallen listed below 1 Bcf/d in recent months. biocides oil and gas staying 3 blocks consist of 2 in the Chiapas Fold Belt, and also one in the southeastern basins in the states of Tabasco as well as Campeche. All 3 have prospective for both oil as well as natural gas. Talking at a press conference, Pedro Joaquin Coldwell, the power secretary, claimed that the major purpose of Round 2.2 is to "extract both damp and completely dry gas so as to produce more ethane, lp and also butane in order to benefit the petrochemical industry." Mexican gas demand has actually averaged just over 8 Bcf/d over the past 3 months, coming to a head at 8.05 Bcf/d in June, according to Platts Analytics' Bentek Energy data. This represents a year-on-year build of 330 MMcf/d or 4%. A considerable proportion of that need is currently being satisfied by a growing network of pipes linking the United States to Mexico. Joaquin Coldwell stated the Round 2.2 blocks are, at 340 to 480 square kilometres, a lot bigger than those of comparable blocks in Round One. He included that the ministry hopes to attract billion from financial investment in 2.2. Quotes on Round 2.2 are to be put on April 7, 2017. Outcomes will be introduced 2 days later on. Round 2.1 consists of 15 shallow-water southerly Gulf of Mexico obstructs on manufacturing sharing agreements, the ministry lately revealed. Proposals on 2.1 are to be presented on March 22. Round One will certainly be finished on December 5, when 10 blocks in the 1.4 public auction are being auctioned in the deepwater Gulf of Mexico, consisting of the Perdido Fold Belt. A total of 26 companies, consisting of the majors, have actually applied to bid and also the federal government expects to generate billion in investment. A fifth Round One public auction was to have actually been held for shale and other non-traditional areas, however was canceled because of issues over the decrease in oil costs. The Round One auctions offered the first upstream contracts after 77 years of Mexico's state oil and also natural gas monopoly that was ended by the 2013-14 power reform.Like it? Share it! More by this author |