MEXICO CITY (Sputnik) – LUKOIL Overseas Netherlands B.V, a subsidiary of Russian energy giant LUKoil, will participate in the tender, which is due to take place on Wednesday.
"There are several improvements which have been introduced since the first tender, taking into the account that the contracts which have been put up now do not have research risks. We believe that the result will be positive on five contracts on extraction on the coasts of Tabasco and Campeche states," Juan Carlos Zepeda said.
Only two contracts out of 14 for the extraction of shallow-water raw materials in the Gulf of Mexico were awarded during the last tender process, which took place in July.
In December, Mexico approved the first international tender for exploration and production contacts in 80 years, after oil prices fell.
Crude prices slumped in 2014 due to the oversupply in the global market. The Organization of Petroleum Exporting Countries decided to maintain oil production levels despite the price drop.
Mexico also plans to announce tenders for shale hydrocarbon fields before the end of the year, according to the president commissioner.
"This is a part of the first round of tenders, the fifth phase of tenders — for untraditional hydrocarbon resources. It is included in the tender calendar and scheduled before the end of the year," Zepeda said.
In October, a tender will be opened for deep-water and extra heavy crude oil fields, Zepeda said, adding that the shale hydrocarbon tender will follow that.
Zepeda estimated the total volume of hydrocarbons resources offered for tender at approximately 4.47 billion barrels of oil according to the 2P (proved and probable) qualification and 11.25 billion barrels of potential oil equivalent reserves.