Published On: Tue, Nov 29th, 2016

Chevron joins Pemex to bid for deepwater oil exploration in Gulf

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Chevron Corp. has joined forces with Petroleos Mexicanos and Japan’s Inpex Corp. to bid next week for the right to explore for oil and natural gas, the first time the state-owned operator will partner with private companies to develop crude in the Gulf of Mexico.

Bloomberg News reports seven groups and eight individual bidders have been qualified to participate in the Dec. 5 auctions that include the Trion field joint-venture with Pemex and 10 other deepwater blocks, Mexico’s National Hydrocarbons Commission announced in Mexico City on Monday. The regulator didn’t specify which bids were for the joint venture or for the other areas.

Chevron deepwater oil exploration. (PHOTO: 24horas.com)

Chevron deepwater oil exploration. (PHOTO: 24horas.com)



Total SA joined forces with BP Plc and Norway’s Statoil in one group, and with Exxon Mobil Corp. in another. Eni SpA and Lukoil also joined up, and Anadarko Petroleum Corp. and Royal Dutch Shell Plc formed another group.

“We are attracting investment and technoloy in deep waters, where a large part of our national reserves are located,” Hector Moreira, Commissioner at the Mexico Oil Regulator and former Pemex board member, said Monday. “We have attracted some of the largest companies in the world that have the technology and investment capacities to develop those resources.”

To read complete article click here.

Source: bloomberg.com

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