Mexico’s National Hydrocarbons Commission (www.cnh.gob.mx) has announced that the bidding requirements for the development of several Mexican oil and natural-gas blocks have been relaxed in order to attract foreign investors.

This is a consequence of disappointing results from the first tender of development blocks last month.

On 15 July, Mexico put the development of 14 shallow-water Gulf of Mexico site up for auction, but only two attracted bidders. Bidding for deep-water sites will take place at the beginning of 2016.

A spokesman for the Commission said: “The changes we are bringing about are intended to attract more investment, improve job creation and increase oil and natural gas production.” He added that they permit greater flexibility in filing a bid and in forming consortiums.

In 2014, President Enrique Peña Nieto approved reforms to the Mexican petroleum sector — ending a state monopoly that had started back in 1938 — with the aim of re-energising oil production and stimulating the economy after a long slump.