Mexico awards 19 offshore blocks. Hopes for $93B investment

Mexico has awarded 19 offshore blocks to 11 companies at its bidding round for deepwater acreage held on Wednesday.

The country will get $525 million from the winning offers submitted for acreage in Perdido Belt, Cordilleras Mexicanas and Salina Basin.

In the bidding round where the international oil companies took part either alone or as part of consortia, or both, Shell took nine of the nineteen blocks awarded, followed by Petronas which took six blocks. Eighteen companies took part.

Shell was a winning bidder for five blocks in the Perdido Beld, and four blocks Salina Basin area.

Perdido Belt, sitting near the U.S. Gulf Coast covering a total area of 18,757.9 square kilometers, had nine blocks on offer, Shell took five of those, as part of consortia. Three of the nine blocks received no bids.

In the Salina Basin area, off Veracruz’s and Tabasco’s coasts, Shell took four blocks, followed by Petronas which took three blocks in the area, 2 alone and one in consortium with Repsol and Thai PTTEP.

In Cordileras Mexicanas or Mexian Ridges area, located off the coast of Veracruz CNH awarded four blocks, out of ten available. Petronas took three of the four blocks, as part of consoria with Ophir, Repsol, and PTTEP, while Pemex took one block.

Mexico had offered 29 offshore blocks. Ten blocks received no bids. Apart from the already mentioned Shell and Petronas, Eni, Chevron, Qatar Petroleum, Pemex, Repsol, Petronas, Ophir, PTTEP, Inpex, and Sierra Nevada E&P also acquired acreage in this round.

Worth noting, BP, Total, Statoil, CNOOC, ONGC, and BHP Billiton did not manage acquire acreage in this round.

Mexican oil and gas regulator CNH seemed pleased with the result, saying the participation confirmed the interested that „companies of great capacity and international prestige have for investing in Mexico, which strengthens and makes the hydrocarbons sector of our country more competitive.“

CNH estimates that total investment over the lifetime of these contracts could amount to 92.8 billion dollars.

Offshore Energy Today Staff

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply