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Mexico's Pemex will launch new auction for 3 Chicontepec blocks
July 11, 2013 / 8:32 PM / 4 years ago

Mexico's Pemex will launch new auction for 3 Chicontepec blocks

MEXICO CITY, July 11 (Reuters) - Mexico state oil monopoly Pemex said Thursday it will launch a new auction for the three blocks in the country’s onshore Chicontepec basin that failed to attract bidders earlier in the day.

The company said on its Twitter page that it plans a new tender for its Amatitlan, Pitepec and Miahuapan blocks, but did not provide other details.

Pemex failed to auction half of the six blocks up for grabs in Chicontepec, turning up pressure on the government to open up the sector to more private capital with an imminent industry overhaul.

The Chicontepec auction marked the third round of the country’s private contracting scheme, the major result of a 2008 reform aimed at revitalizing aging oil fields and attracting long-term private investment.

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