Mexico has successfully auctioned two of the first seven blocks made available in the first of its historic oil and gas tenders.
The North American country has opened up the industry, which had long been nationalised, for the first time since 1938.
Both of the contracts have been awarded to a consortium of Sierra Oil & Gas, Premoer Oil and Talos Energy.
The consortia had offered 55.99% in block two in pretax profits to the state.
In the other – block seven – it put forward a bid of 68.99%.
However the finance ministry said bids in the other rounds had not been high enough for approval.
Three of the oil majors have also pulled out from the first round.
Read the latest on the historic bid here.