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Latinnews Daily - 01 February 2018

In brief: Mexico

*Mexico’s energy ministry (Sener) has revealed that 19 of the 29 blocs included in the country’s latest hydrocarbon exploration and exploitation concession tender have been successfully awarded. In a press conference, deputy hydrocarbons minister Aldo Flores Quiroga declared the tender a “success” noting that it is expected to result in some US$93bn being invested in the country’s oil sector. This level of projected investment is the highest yet for any of the concession tender rounds launched since the 2013-2014 energy sector reform that opened up Mexico’s oil sector to increased private participation. Quiroga also noted that the awarded concessions are expected to produce some 230,000 jobs over the next 15 years. Quiroga added that if all of the awarded concessions, all located in deep waters in the Gulf of Mexico, become productive, they could produce an additional “1.5m barrels per day and 4bn cubic feet of natural gas per day by 2032”, practically doubling Mexico’s current production levels.

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