United Nations Climate Change
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Continuing the trend of successful upstream bids in Mexico (which to date have awarded more than 90 contracts) the National Hydrocarbons Commission (CNH) formally announced and approved the bidding guidelines for the highly anticipated gas-focused third bidding process of Round 3 (3.3).
CNH informed that Round 3.3 will offer 9 onshore contractual areas located in Tamaulipas (northern Mexico), including conventional and unconventional fields with dry gas and wet gas as expected resources.
The contracts to be awarded as part of Round 3.3 will follow the license model, widely favored by interested bidders in past CNH rounds. The full bidding guidelines were published today, and substantially follow the same model that has proved very successful since the CNH rounds began in late 2014.
Interested parties may begin the prequalification process immediately and request access to the bid data room starting next Monday. As of now, the submission and opening of proposals is scheduled for September 5, 2018, with the award set to be issued on September 7, 2018.
Round 3.3 supplements Round 3.1 (offering 35 contractual areas in shallow waters of the Gulf of Mexico, with wet gas, dry gas, light oil and heavy oil as expected resources) and Round 3.2 (offering 37 onshore contractual areas, with oil and non-associated gas as expected resources).
The Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 passed Parliament last week and received royal assent shortly after.
The Court of Justice of the European Union (CJEU) has delivered its decision in A Ltd, a case concerning the location of insured risk, and therefore which jurisdiction can charge IPT, on cross-border M&A insurance policies.