Mexico Gives Pemex Two More Years To Explore 101 Oil Blocks

Mexico’s energy ministry on Monday extended by two years the
leases on 101 oil and gas exploration blocks assigned to state oil
firm Pemex that were due to expire on August 28. Under Mexico’s
energy reform of 2013, the government opened oil and gas
exploration blocks to international investments for the first time
in more than 70 years, ending Pemex’s monopoly. The state oil
company was allowed to keep many of its blocks on the condition
that it carries out a minimum amount of work to explore them. A
total of 65 of the 101 blocks…

Mexico’s energy ministry on Monday extended by two years the
leases on 101 oil and gas exploration blocks assigned to state oil
firm Pemex that were due to expire on August 28. Under Mexico’s
energy reform of 2013, the government opened oil and gas
exploration blocks to international investments for the first time
in more than 70 years, ending Pemex’s monopoly. The state oil
company was allowed to keep many of its blocks on the condition
that it carries out a minimum amount of work to explore them. A
total of 65 of the 101 blocks…