What’s the next step in the Mexico bid rounds process?

JKA: Five sectors have been designated for bidding in Round One; Shallow Water; Heavy Oil; Unconventionals, including natural gas; Onshore and Deepwater. To begin, there will be a call for bids in each of the sectors followed by: (i) the issuance of public bidding rules, (ii) data room postings and access, (iii) clarification meetings, (iv) bidder prequalification, (v) site visits, (vi) submission of bids, and (vii) bid award and contract execution. All calls for bids for each of these areas are scheduled to take place between now and March of 2015, with bids due between May and October, 2015, as follows:

• Shallow Water areas, with a call for bids now and bids due by May of 2015. The CNH has just released a call for bids for 14 projects in this sector.

• Heavy Oil areas, with a call for bids in December, 2014 and bids due by June 2015.

• Unconventionals, including natural gas, with a call for bids in January, 2015 and bids due by July, 2015.

• Onshore areas, with a call for bids in February, 2015 and bids due by September, 2015.

• Deepwater areas, with a call for bids in March, 2015 and bids due by October, 2015.

In response to the recent drop in oil prices, the Government has decided to first call for bids for the more attractive, high-margin projects.