Mexico Sets Minimum Royalty Value For Deepwater Gulf Auction

Reuters

MEXICO CITY, Sept 6 (Reuters) - Mexico's Finance Ministry announced on Tuesday the minimum value of additional royalties for companies participating in a deep-water oil tender, one of the most highly anticipated auctions since the opening of the local oil industry.

The ministry set the minimum value of additional royalties at 3.1 percent for contractual blocks one through four, and at 1.9 percent for blocks five through 10.

Ten license agreements for the exploration and extraction of hydrocarbons in the oil-rich areas of Cinturon Plegado de Perdido and the Salina Basin will be offered in the so-called Round 1.4 tender in December.

(Reporting by Ana Isabel Martinez, writing by Natalie Schachar)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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