A total of 11 oil and gas bid rounds are due to close in the fourth quarter of 2016, according to a report by GlobalData.
Titled 'Q4 2016 Global Bid Round Outlook – India and Mexico Offer New Regimes', the report provides details of various bid rounds closing in the oil and gas industry in the UK, Canada, China, US, India, Mexico and other countries.
Some of the bid rounds closing in Q4 2016 include UK’s 29th Offshore Licensing Round, Canada’s Bid Sale NS16-1, China’s 2016 Open Blocks, India’s Discovered Small Fields Bid Round-2016, Ukraine’s Second Licensing Round 2016, Indonesia’s 2016 Regular Tender Round, Round 1 - Deepwater Exploration of Mexico, Egypt’s Ganope Bid Round and 2016 Licensing Round of Equatorial Guinea.
The report also provides information on the new fiscal regimes offered by India and Mexico. India is offering a new revenue sharing contract model and Mexico is offering royalty / tax licenses.
The UK is offering the highest number of blocks in all of the bid rounds under its 29th Offshore Licensing Round, followed by India with 46 blocks and Equatorial Guinea with 37 blocks.
In terms of acreage, Equatorial Guinea is offering the highest acreage of 251,669km², followed by Egypt with 82,797km² and China with 52,257km².