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Latin American Oil And Gas Resources Tender Will Attract Many Oil Giants To Participate

- Mar 28, 2018 -

According to news released by relevant agencies in Brazil and Mexico, Latin America will have more than 100 oil and gas resources block licenses for this week, and many global oil giants will participate in the bidding.

The Brazilian National Petroleum Administration issued a news that Brazil's 15th round of tenders for oil and gas resources licenses will be held on the 29th, including 70 blocks of offshore oil and gas resources and land areas. The 21 companies that participated in the bidding included Petrobras and ExxonMobil, Chevron, BP, Shell, and Total.

According to data from the Mexican National Oil and Gas Commission, the bidding for the oil and gas blocks in Mexico will start on the 27th, including 35 shallow oil and gas blocks in the light, heavy crude oil, and natural gas blocks. The bidders included 14 independent companies such as Chevron and 22 consortiums. This is the third round of bidding for oil and gas blocks since Mexico opened the energy market to foreign investors in 2013.

Analysts said that Brazil and Mexico will hold general elections this year, which may be the last round of bidding for oil and gas resources before the two countries’ general elections.