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MEXICO CITY, May 12 (Reuters) - The 26 onshore areas in the next round of contracts in Mexico's opening of its oil and natural gas industry should bring in about $620 million in investment in the first five years, Energy Minister Pedro Joaquin Coldwell said on Tuesday.
The onshore oil and gas areas to be tendered are spread across five states and contain 2.5 billion barrels of oil equivalent (boe) in proven, probable and possible reserves.
The contracts will have a duration of 25 years, and could be extended for two additional periods of five years each, Joaquin Coldwell said at an event in Mexico City.
Reporting by David Alire Garcia and Adriana Barrera