Mexican state-owned energy giant Pemex will not be participating in round one of the country’s historic energy opening.
The move was revealed by Mexican energy minister Pedro Joaquin Coldwell.
The initial tenders are part of an opening which is aimed at helping to bring more private investment into the country’s oil and gas sector.
Earlier this week four companies exited out of the initial installments of the first bidding round.
The Mexican units of Noble Energy and Glencore and Ecopetrol all requested to exit the competition for 14 shallow water oil fields which are set to be awarded July 15.
PTT Exploration and Production Public Company have also dropped out.
The CNH (Comision Nacional de Hidrocarburos), the regulator handling the tendering process, did not specify why the firms had decided they would no longer participate in the initial auction.
The 14 contractual areas are all shallow water exploration blocks which are located along the Southern rim of the Gulf of Mexico.