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The consortium's winning bid for the production-sharing contract covering the shallow water block along the southern rim of the Gulf of Mexico offered 55.99 percent of pre-tax profits to the state. (Photo: Special)

Mexico awards 2nd block in oil tender to Sierra, Premier and Talos

15/07/2015
13:02
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The block is one of more than a dozen oil fields being auctioned as part of a historic sector opening the government hopes will fuel more robust growth in Latin America's second biggest economy.

Mexico's oil regulator on Wednesday awarded the second block in its initial offshore tender to the consortium including Sierra Oil & Gas, Premier Oil and Talos Energy.

The block is one of more than a dozen oil fields being auctioned as part of a historic sector opening the government hopes will fuel more robust growth in Latin America's second biggest economy.

The consortium's winning bid for the production-sharing contract covering the shallow water block along the southern rim of the Gulf of Mexico offered 55.99 percent of pre-tax profits to the state.

The regulator said it received no winning bid in the first, third, fourth and fifth blocks of its initial offshore oil and gas tender.

The production-sharing contracts on offer received no bids above the minimum 40 percent of pre-tax profits required by the government.

 

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