Mexico's Round One deepwater phase closes with a bang Report

Insight 14 December 2016

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Report summary

The close of Mexico's first deepwater offering was a major success, ending Mexico’s Round One on a very high note. Eight of ten exploration blocks received bids and BHP Billiton narrowly outbid BP to partner with Pemex in the Trion JV.

Deepwater exploration’s freshman class a healthy mix of Majors, Independents, and NOCs
- Perdido bids
- Salinas Sureste bids
- Blocks 1-2: The Statoil-led consortium was the only bidder in the deeper Salinas Sureste blocks
- All blocks were awarded in Perdido but only one received multiple bids
- CNOOC bid very aggressively in Perdido
Mexico ends Round One with a strong finish

Tables and charts

This report includes the following images and tables:

Statoil and Total were the most active bidders
Mexico's Round One deepwater phase closes with a bang: Table 1
Mexico's Round One deepwater phase closes with a bang: Table 2

Salinas Sureste saw the highest levels of competition
Mexico's Round One deepwater phase closes with a bang: Image 4
Blocks 3-6: The Statoil-led consortium won the most blocks by bidding a conservative 10% royalty twice
Mexico's Round One deepwater phase closes with a bang: Image 6
Mexico's Round One deepwater phase closes with a bang: Image 7
BHP will do the heavy lifting at Trion
Trion will bring BHP Billiton's production growth on par with its independent peers
Trion will put BHP Billiton's deepwater liquids reserve base at the top of the Independents