June 9 th , 2016.
Dear clients and friends,
This past 16 th of May, following the Fourth Bidding Process of Round One (Proceso Licitatorio de la Cuarta Convocatoria de la Ronda Uno) regarding deep water contracting blocks, the National Hydrocarbons Commission ("Comisión Nacional de Hidrocarburos" – CNH) published in a press release various modifications to the Bidding Process and Standard Licensing Contract, individually and in consortium.
The primary modifications to both the Model Contract and to the Bidding Process include the evidence of financial capacity, adjustments to the minimum work program, modifications to the award variables, transfer of goods in case of termination or rescission, social baseline, elimination of restrictions for the procurement of insurance, among others.
For more information, please contact our experts:
Edmond Grieger, Partner:
+ 52 (55) 5258-1048, egrieger@vwys.com.mx
Ariel Garfio, Associate:
+ 52 (55) 5258-1008, agarfio@vwys.com.mx
Sofia López, Associate:
+ 52 (55) 5258-1048, slopez@vwys.com.mx
Kindest regards,