Mexico approves bidding for 12 exploration blocks

Mexican oil regulators on Tuesday approved a bidding process for a dozen exploration and production areas containing mostly natural gas, the sixth auction since the country opened the industry to private and foreign investment.

The auction includes 12 onshore blocks, nine in the Burgos basin of northern Mexico and three in the south of the country. Contracts are for 30 to 40 years, including exploration, development and production periods.

Source: Wall Street Journal