The sector has received investment commitments of $70bn, a figure that is expected to swell by $30bn by the end of December.
Mexico's energy sector will receive about $100bn in investment this year, energy minister Pedro Joaquín Coldwell said.
Coldwell was quoted by Milenio newspaper as saying at a university event the sector has received investment commitments of $70bn, a figure that is expected to swell by $30bn by the end of December.
"The energy reform is generating investment across the country that will materialize in the coming years and will generate positive effects on regional development, local production chains and the proliferation of job opportunities for young people," he was quoted as saying.
Mexico plans to hold three oil and gas auctions this year as part of Round Two. The first auction, for shallow water, is scheduled for June 19 and will also seek to award a farm-out contract to jointly develop the shallow water Ayín and Batsil fields. Pemex is expecting to see production from the fields start in 2020.
Twenty-five firms have expressed an interest in the shallow water auction, 22 of which have been granted access to the data room. They include BP, Chevron, Ecopetrol, Hunt Overseas, Inpex, Lukoil, ONGC Videsh, Repsol, Shell and Total, according to the national hydrocarbons commission (CNH).
Fifteen companies have expressed interest in participating in the second auction of Round Two, for onshore fields, due to be held in July. Four of those companies have begun the process to access the data room: Total, Gran Tierra México Energy, Tecpetrol Internacional and Geo Power Solution.
Mexico is also due to launch its third electric power auction on April 28, which will differ from the two held last year in that state utility CFE will not be the sole purchaser of electricity from generators. Power-purchasing companies will have to establish creditworthiness and the energy ministry will set up a trading house to sign and manage power purchase agreements with the companies that win bids.
You might also be interested in:
We are at the precipice of a new decade of change for women. As 2020 creates new promises across different socio-economic fronts, this decade will embrace and welcome women’s role in government, politics, business and corporate leadership in a way that normalises their presence and influence in otherwise homogeneous male environments.
We find ourselves in a time that is unfortunately affected in all aspects of our lives by an invisible threat. It’s a threat that not only affects human health, but has entered people's minds with devastating effect, upsetting their psychological balance and the economic health of society, and as a result posing existential questions by part of the population itself.