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.