Mexico’s oil industry regulator CNH (Comisio Nacional de Hidrocarburos) on Friday announced that it is proceeding with plans to auction 10 deepwater oil blocks in the Gulf of Mexico and that December 5 is the cutoff date for proposals, according to Reuters.
The auction is the fourth phase of the Round One tender, a major part of Mexico’s reform of the oil industry as it attempts to remove monopoly power from state oil firm Pemex and attract private and overseas investors.
Nine companies have signed up for the auction so far – Shell, Total, Chevron, Statoil, Atlantic Rim, ExxonMobil, BP, BHP Billiton and Hess.
CNH commissioners voted unanimously to go ahead despite poor and mixed responses to earlier auctions (of both onshore and shallow offshore prospects) because of the long-term decline in oil prices.
