Only two of the offers received exceeded the reference price set by the Veracruz port authority.
Legislation includes a US$400mn capital injection for Chile's 100% state-owned energy firm.
A report by the New York-based Natural Resource Governance Institute says the Brazilian and Colombian governments offer "satisfactory" laws and practices for oil and gas companies.
The new model aims to attract new players to finance infrastructure projects
The US will reportedly seek a new energy pact as part of the renegotiation of Nafta, which Donald Trump has lambasted and threatened to quit.