The Transformation of Mexico's Hydrocarbons Industry

摘要

This article outlines the process followed in order for Mexico to amend its Federal Constitution, which is now reflected in the well-known Mexican energy reform. This reform not only ended Mexico's national oil company's monopoly in the hydrocarbons sector but it also brought new investor opportunities. Further, this article explains the most significant legal aspects arising from Mexico's energy reform, such as the new institutions that were created and the different types of Exploration and Extraction Contracts for carrying out exploration and extraction activities. Lastly, reference is made to Round 0 and Round 1. In the former, PEMEX was able to retain specific areas and it was granted the option to migrate its existing entitlements to the new types of contracts. For Round 1, a description of the three invitations to bid is provided along with a brief explanation of the applicable criteria in order for the participants to prequalify and subsequently be granted an E&E Contract. This article concludes by arguing that all legal aspects of Mexico's energy reform are deemed to play a pivotal role in the implementation of such an important decision.