Mexico: Oil Exploration Shell is Awarded Nine Key Blocks in Deep-Water Bid Round
The company has been able to achieve this feat by partnering with Pemex Exploración y Producción and Qatar Petroleum International. With this win, the company looks to further expand its presence in Mexico.
Mexico – In a deep-water bid round for the Mexican Gulf of Mexico, Shell won four exploration blocks on its own, one with its partner Pemex Exploración y Producción and four with its partner Qatar Petroleum International. Shell will be the operator of all nine blocks.
Shell has been in Mexico since 1954 and has a large portfolio of businesses that includes retail, trading, petrochemicals, lubricants, import and sales of LNG. The results of today’s deep-water bid round further fortify Shell’s presence in this key market after having established its first retail station in the country last September.
This year, Shell celebrates 40-years of deep-water operations in the US Gulf of Mexico, where it pioneered deep-water exploration and production. World-wide, Shell deep-water production is progressing to greater than 900-thousand barrels of oil equivalent per day by 2020, from already discovered, established areas in the US Gulf of Mexico, Brazil, Nigeria, and Malaysia.