Mexico’s state-run Pemex on 20 March submitted to the energy ministry a list of the resource-bearing blocks it wants to retain before acreage is offered to other companies under the nation’s sweeping new energy reform. Under the process nicknamed “round zero,” the ministry will advise Pemex on 20 September which properties it is allowed to continue developing. Even after this, the ministry retains the right to withdraw blocks. Pemex must begin producing by March 2017 or seek a two-year one-time extension. Blocks that remain unproductive in March 2019 will revert to the state.
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