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US producers team up for Mexico bid

MEXICO CITY, August 19, 2016 – Chevron, ExxonMobil and Hess have reportedly reached a joint operating agreement that will allow the US producers to bid as a consortium for drilling rights in the upcoming Mexico deepwater auction, sources familiar with the matter said on Friday.

 

The country’s first-ever deepwater round will open in December, with 10 areas up for bid. BP, Shell and Statoil, in addition to the aforementioned operators, are among the 26 companies qualified for the auction, which the Mexican government hopes will bring in more than USD 40 billion.

In May, Pemex had said it was in talks with Chevron, ExxonMobil and Total on jointly developing deepwater oil resources in the Gulf of Mexico.

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