Mexico auctions long-awaited deepwater blocks

Mexico's historic first deepwater bidding round in December auctioned off 10 blocks and a farm-out discovery on its side of the Gulf of Mexico.

2016-12-07 views 437

Australia's BHP Billiton walked off with Trion, the sole farm-out tract sited in the attractive Perdido area that Mexico shares with the US.

Ten other deepwater blocks were offered in a separate bidding event — four in the Perdido area and six in the Salina area Basin further south, which is undrilled. Perdido winners included ExxonMobil, CNOOC, and a group containing Chevron, Pemex and INPEX. In the Salina Basin, Norway's Statoil, BP and Total won two blocks, while a consortium led by Malaysia's Petronas, walked off with two other blocks. Two other blocks had no takers. Further auctions are expected in 2017.

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