Five Things to Watch as Mexico Starts Historic Oil Auctions | White & Case LLP International Law Firm, Global Law Practice
Five Things to Watch as Mexico Starts Historic Oil Auctions

Five Things to Watch as Mexico Starts Historic Oil Auctions

Mexico's first oil-drilling auction in more than 77 years highlights an effort to help revive the country’s economy. The auction for private investors is beginning with 14 shallow-water blocks in the Gulf of Mexico, and White & Case partner Daniel Sanchez said that "four of the 14 blocks scheduled for auction are considered very attractive," and nine blocks have a 20 to 36 percent probability of commercial success; the lowest has only 6 percent.