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Mexico's First Bid For Shale Area Held In September
Mar 27, 2018

Mexico's oil and gas management department has announced that it will hold a tender for development rights for shale areas in September this year. A total of nine tendering blocks were located in Tamaulipas Province, in the northwestern part of the Mexican-American border. The Mexican National Oil Company had drilled more than 20 exploration wells here. The company that has won the development rights enjoys regular and unconventional oil and gas resources in the development block.

According to official data, the unconventional oil and gas resources in these blocks amount to about 1.16 billion barrels of oil equivalent, and there are still 53 million barrels of oil equivalent of conventional oil and gas resources. The development of shale oil and gas resources in these blocks will face many challenges due to the extreme lack of local infrastructure and severe water shortage, which is not conducive to hydraulic fracturing operations.

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