Mexico’s offshore GoM lease sale awards two blocks

Offshore staff

MEXICO CITY Mexico received two qualifying bids on the 14 shallow-water blocks offered on its first sale since the revision of its rules regarding participation by non-Mexican operators. There were either no bids or no qualified bids on the other 12 tracts.

A consortium of Sierra Oil & Gas, Talos Energy, and Premier Oil Plc won blocks No. 2 and No. 7, Mexico’s National Hydrocarbons Commission and Energy Ministry has announced. A total of 38 companies qualified to participate.

Block 2 is off Veracruz and block 7 is off Tabasco.

Bloomberg has reported that the government said a minimum of 30% to 50% of the available blocks would need to be awarded to count the sale as a success.

07/16/2015

Blocks 2 and 7 offshore Mexico.
Blocks 2 and 7 offshore Mexico. (Map courtesy Premier Oil)

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...