Sets local content rule for deep water oil projects

Oil companies operating in Mexico's deep waters must use national suppliers for 8 percent of the projects by 2025. Mexico's oil regulator has scheduled its first-ever deep water auction in early December for 10 blocks in the Gulf of Mexico, after constitutional amendments in 2013 ended a nearly eight-decade monopoly by state oil firm Pemex. The rule sets a 3 percent minimum in 2015, which covered the few projects operated by Pemex, that would rise to a maximum of 8 percent in 2025, according to a statement in the government's official gazette.

• Type:

  • Treatment and operation (Operational conditions)

• Industry:

  • Primary (Mining and quarrying)

• Sources:

  • Official Gazette of Mexico, Acuerdo por el que se establecen los valores para 2015 y 2025 de contenido nacional en las actividades de Exploración y Extracción de Hidrocarburos en aguas profundas y ultra profundas, http://www.dof.gob.mx/nota_detalle.php?codigo=5431313&fecha=29/03/2016, 29 Mar 2016
  • Reuters, Mexico sets low local content rule for deep water oil projects, http://uk.reuters.com/article/mexico-oil-idUKL2N171123, 29 Mar 2016