Mexico’s government estimates more than $8 billion will be invested over the lifetime of oil and gas contracts awarded in shallow waters in the Gulf of Mexico. The government said it awarded 16 contracts to 14 companies grouped into 12 bidders during its latest auction for offshore contracts. The total investment over the lifetime of the contracts could be as high as $8.6 billion. “The results confirm the interest of high capacity and international prestige companies to invest in Mexico, which strengthens and makes the hydrocarbons sector more competitive,” the country’s energy department stated. British explorer Premiere Oil was among the big winners, taking three blocks in the auction. A survey to get a better understanding of the reserve potential is […]