Mexico’s historic energy reform has established a new legal framework for Mexico’s energy industry and is expected to attract billions of dollars in foreign investment, something that had spurred Canadian oil and gas project developer International Frontier Resources (IFR) into action.
The denationalisation of more than 900 oil and gas blocks kicked off during August 2014, when Mexico’s energy ministry Sener issued a five-year, four-round tender plan stretching 2015 to 2019 for the denationalisation of 914 oil and gas blocks. IFR believed that there were a significant number of under exploited oil and gas fields in Mexico that would be issued in these bidding rounds.
