GlobalData expects regular licensing rounds will continue across North America in 2018. Notably, Mexico held its second deepwater exploration round (round 2.4) on January 31, attracting bids from many high profile IOCs. Shallow water, onshore and possibly unconventional rounds will follow later in the year.

Amendments to the US tax code improve the investment climate while the Canadian province of Newfoundland and Labrador has also enacted a new simplified royalty regime which will apply to all new offshore developments.

Bid Rounds, Fiscal Regime Changes and Pending Legislation in 2018

Source: Upstream Analytics                                                                                                                 © GlobalData

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