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Ten of 15 Blocks Tendered In Mexico’s Latest Offshore Licensing Round

Offshore

The Mexican energy regulator released the results of its latest oil and gas licensing round in the Gulf of Mexico on Monday, with nine of the fourteen available blocks successfully awarded. Eni won the bids for three blocks—two as partnerships with others—for three blocks (blocks 7,10, and 14). Citla Energy also won awards in three blocks, with Pemex and Capricorn Energy Ltd winning in two blocks. Russia’s Lukoil won the award for the block assumed to hold the most resources.

By block, the winners are as follows:

Block 1: No bidders tendered in shallow oil and gas areas of Gulf of Mexico.

Block 2: Deutsche Erdoel AG and state oil firm PEMEX won the tender for the 212-square-mile block, which sits off the coast of Veracruz.  Block 2 is estimated to hold up to 681 million barrels of oil.

Block 3: No bidders tendered in shallow oil and gas areas of Gulf of Mexico.

Block 4: No bidders tendered in shallow oil and gas areas of Gulf of Mexico.

Block 5: No bidders tendered in shallow oil and gas areas of Gulf of Mexico.

Block 6: Malaysia’s Carigali and Colombia’s Ecopetrol won the tender for the 216-square mile block, which, similar to Block 2, sits off the coast of Veracruz and could hold up to an estimated 516 million barrels of oil.

Block 7: An Eni-led consortium including Capricorn Energy Ltd, and Citla Energy won the tender for the 228-square-mile block, which sits off the coasts of Veracruz and Tabasco, and holds up to 169 million barrels of oil.

Block 8: State-run PEMEX and Ecopetrol won the tender for this 226-square-mile block, which sits off the coast of Tabasco, holding an estimated 413 million barrels of oil.

Block 9: Capricorn Energy and Citla Energy narrowly outbid Eni for this 217-square-mile block, which sits off the coast of Tabasco, holding up to 571 million barrels of oil.

Block 10: Eni won the tender for this 206-square-mile block, which sits off the coast of Tabasco and holds up to 512 million barrels of oil.

Block 11: Spain’s Repsol and Mexico’s Sierra Perot won the tender for this 206-square-mile block, which sits off the coast of Tabasco, thought to hold up to 949 million barrels of oil.

Block 12: Russia’s Lukoil won the tender for this 201-square-mile block, which sits off the coast of Tabasco and holds up to 958 million barrels of oil.

Block 13:  No bidders tendered in shallow oil and gas areas of Gulf of Mexico.

Block 14: Eni and Citla Energy won the tender for this 180-square-mile block, which sits off the coast of Tabasco, and holds up to 472 million barrels of oil.  

Block 15: A consortium comprising France's Total (NYSE:TOT) and Royal Dutch Shell (RDS.A) won the 15th shallow water oil and gas block put up for auction on Monday.

By Zainab Calcuttawala for Oilprice.com

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