Among the recent successes that will help shape the future of the country’s oil and gas sector was CNH’s highly anticipated deepwater auction, which finally came to fruition in 2016, raking in an impressive US$34 billion dollars of projected investment. The positive news wrapped up a productive year for the regulator’s tenders, which included the finalization of Round One and the announcement of the first legs of Round Two in June and July 2017. Participants range from global oil giants BP, Chevron and Total to lesser known but no less ambitious Mexican companies that are looking to take the industry by storm.

This chapter takes a look at the success factors and pitfalls of each licensing round so far from the point of view of authorities, regulators and participants alike, analyzing each round and offering a breakdown of the fields involved, their characteristics and what can be done to improve future processes.