BritChaM Business

The Commercial Section of the British Chamber of Commerce in Mexico

Congratulations to Chamber Member Shell for Excellent Result in Latest Deep-water Bid Round 2.4

We are delighted to announce that, in the latest deep water bid round in Mexico – “ronda 2.4” – Chamber Member Shell won four exploration blocks on its own, one with its partner Pemex Exploración y Producción and four with its partner Qatar Petroleum International Limited. Shell will be the operator of all nine blocks – that in total area are equivalent to 12 times the size of London or 13 times the size of Mexico City.

British Company Ophir also won two blocks in Cordilleras Mexicanas, one with Repsol and PC Carigali, and the other with PC Carigali and PTTEP.

For the detailed list of winners and corresponding blocks, please click here.

This latest round has been applauded for attracting the necessary investment to bring Mexico’s oil production in line.

“Mexico is having, thank God, much success attracting investment from national and foreign oil companies,” Oil Commissioner Juan Carlos Zepeda said after the auction. “This is being achieved with very good financial terms for the Mexican government.”

Sources
Shell: https://www.shell.com/media/news-and-media-releases/2018/shell-wins-key-blocks-in-mexico-deepwater-bid-round.html
Mexico gov.: https://rondasmexico.gob.mx/r02-l04-seguimiento-y-transparencia/#resultados
Bloomberg: https://www.bloomberg.com/news/articles/2018-01-31/shell-qatar-petroleum-have-big-oil-plans-for-mexico-deep-waters
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