Mexico receives no bids for Ayin-Batsil joint venture

There were no bidders in an auction to partner with Mexican national oil company PEMEX on its offshore Ayin-Batsil project.

Offshore staff

MEXICO CITY – There were no bidders in an auction to partner with Mexican national oil company PEMEX on its offshore Ayin-Batsil project, the industry regulator CNH said on Wednesday.

According to a Reuters report, industry analysts had seen Ayin-Batsil as the most attractive of the three areas available in the auction, which was held on Oct. 4. The results of the other two blocks are due to be announced later.

The auction is only the second offering of a joint venture between PEMEX and equity partners since a sweeping energy opening finalized in 2014 ended the company’s decades-long monopoly and allowed it to jointly develop projects with private and foreign oil companies.

Ayin-Batsil is a 423-sq mi (1,096 sq km) mostly heavy oil field in shallow waters along the southern edge of the Gulf of Mexico. It is believed to contain 359 MMboe in proven, probable and possible reserves.

10/05/2017

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