Mexico to award first deepwater oil contracts on Dec. 5

Mexico plans to award its first contract awards, covering 10 deepwater Gulf blocks, in an auction scheduled for Dec. 5, according to Reuters, citing Mexico’s oil regulator CNH.

Four of the blocks are along the maritime border with the US in the Perdido Fold Belt where oil majors on the US side, including Royal Dutch Shell and BP, have drilled commercial wells. The remaining blocks are located in the Salina Basin along the southern rim of the Gulf.

The auction will be the fourth phase of the country’s Round One tender, and Reuters noted that contract winners will not be required to drill wells during the first four years of the contracts.

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