What was lost in Round 1.1: How government expectations were not met
MEI REPORT 788 (HOUSTON) — Our new report, MEI 788, identifies the areas where government expectations were not met in the CNH auction of July 15. For the government, the outcome represented the penultimate worst-case scenario: the worst would have been had there been no bidders at all. We provide consideration for what alternatives could be adopted to minimize the risk of such an outcome happening in the future:
- The use of a restricted tender, with only specific oil companies invited to bid
- The provision for a technical tie where two or more bids differ by 10% or less
- Moving Round 1.4 (deepwater) forward to Round 1.2.
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