BHP Billiton WINS bidding for exploration in Mexico

The first oil company to win the right to operate in the deep waters of the Gulf of Mexico was the Australian BHP Billiton who won one of several Mexican oil block auction. China Offshore Oil Corp., or Cnooc, won two other blocks, whose proposal to offer up to 17% of additional royalties on oil production for the Mexican Government.

The French Total, ExxonMobil, a group formed by Statoil, BP and Total, and another group, including the Murphy Oil, Ophir Energy and Petronas Carigali Malaysia were successful. Eight of the 10 were granted blocks of deep waters for deals, as well as the joint venture Trion field with Pemex.

Other awarded in joint bid with Pemex was Chevron. This is the fourth auction since the opening of the Mexican oil industry in 2013, however was first targeted deep-water reserves, which attracted the interest of big oil.

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