Oil majors to bid for Mexico offshore blocks

More than 30 companies are expected to bid on 14 shallow-water oil exploration blocks as Mexico prepares to allow private producers to drill in its waters for the first time in almost 80 years


Oil exploration blocks

Oil extraction blocks

Exploration blocks offered in July 15 auction


Non-conventional

UNITED STATES

MexicoÕs maritime border

Perdido area

Chicontepec and non-conventional

GULF OF MEXICO

Mexican Ridges

Southern deep waters

300km 200 miles

Heavy oil

Mexico City

MEXICO

PACIFIC OCEAN

GUATEMALA

BELIZE 

HONDURAS


Shallow waters: 14 exploration blocks to be awarded in first of five bidding rounds taking place until 2019, comprising total of 169 blocks. Mexico sits on reserves estimated at 115bn barrels of oil equivalent, comparable to KuwaitÕs


Sources: Stratfor, Financial Times, wire agencies

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