Mexico's Deepwater Auction a Success; Now What?

Journal of Petroleum Technology 

Mexico's historic public tender for its deepwater real estate resulted in the awarding of eight out of 10 blocks on offer. Held Monday in Mexico City, the event marked the fourth and final tender of the country's Round One process that has reopened the doors to foreign oil and gas firms for the first time since the energy sector was nationalized almost 80 years ago. A total of 13 companies were awarded rights to explore and produce from offshore fields in the Gulf of Mexico. The winning bids also committed to drill at least eight deepwater wells. All four blocks on offer in the Perdido area were awarded, including two that went to the Chinese Offshore Oil Corporation (CNOOC) and one to a consortium of Chevron, Pemex, and Inpex--Japan's largest oil company.

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