Former President Enrique Pena Nieto awarded over 100 contracts to energy firms in 2015-2018 to explore and produce oil and gas in Mexico. His reforms also opened the door for Pemex to form joint ventures.
CNOOC, which faces heavy capital investment in Guyana, plans to sell stakes in two offshore blocks at Mexico’s Perdido basin. The negotiations are expected to be done in January, the company said, without revealing names of the interested buyers. “If there are no material results soon, we don’t have to offer more rounds,” said Energy Secretary Rocio Nahle last month.