Mexico auctions two-thirds of blocks in shallow water oil tender

6/19/2017 Reuters

Martin Magana, bidding director for the Mexico’s national hydrocarbons commission (CNH) examines documents during an auction of 15 offshore blocks, in Mexico City
Martin Magana, bidding director for the Mexico’s national hydrocarbons commission (CNH) examines documents during an auction of 15 offshore blocks, in Mexico City, Mexico June 19, 2017. REUTERS/Henry Romero

Mexico on Monday auctioned two-thirds of the shallow water oil and gas blocks up for grabs in the latest round of its energy market opening, surpassing the cautious estimates officials made last week.

Italy’s Eni, Colombia’s Ecopetrol and Capricorn Energy, a unit of Edinburgh-based Cairn Energy, were among the companies at the forefront of the bidding for 15 blocks in the southern Gulf of Mexico.

Ten of the 15 blocks were taken up in the auction.

“This is a great result,” Juan Carlos Zepeda, head of the oil industry regulator known as the CNH, told a news conference.

Eni took one of the blocks by itself and two in consortium with other companies. One comprised Capricorn and Mexican oil firm Citla Energy, the other was with Citla alone.

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