The next bidding round in the opening of Mexico's oil and gas sector will be called by the end of July and consist of 15 shallow-water blocks for exploration and extraction work in the Gulf of Mexico, Energy Minister Pedro Joaquin Coldwell said.
Coldwell announced the round, denominated 2.1, at an event in the northern city of Monterrey on June 8.
The following round, or 2.2, would be called by the end of the summer and comprise 14 onshore blocks for E&P work in the gas-rich Burgos Basin in the north of the country, as well as in southeast Mexico, Coldwell added.
Mexico ended the oil and gas monopoly of national oil company Pemex at the end of 2013 in order to open up the industry to more private sector investment. However, the auctions of oil and gas blocks have been complicated by a sharp drop in crude prices.
Crude futures on June 8 hit their highest levels in 2016, beyond $50 per barrel. Coldwell said it was very hard to forecast whether the recovery in prices would last.
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