Qatar Petroleum, Shell win Mexico blocks

Qatar Petroleum, the world’s largest producer of liquefied natural gas (LNG), has won exploration rights in five offshore blocks in Mexico.

The winning bids were announced on Thursday by the National Hydrocarbon Commission of Mexico (CNH) at the conclusion of a public bidding session in Mexico City, during which CNH also received the competing bids.

Qatar Petroleum won the exploration rights for blocks 3, 4, 6, and 7 in the Perdido basin as part of a consortium comprising Shell, the operator with a 60% interest, and Qatar Petroleum that holds a 40% interest.

Qatar Petroleum also won the exploration rights for block 24 in the Campeche basin as part of a consortium comprising Eni, the operator with a 65% interest, and Qatar Petroleum with a 35% interest.

“Winning these offshore exploration blocks in Mexico, which contain some of the most promising hydrocarbon prospects in the world, is an important achievement for Qatar Petroleum. It represents another step in implementing our strategy to expand our international footprint, and to pursue Latin America as an important core area for Qatar Petroleum,” said Saad Sherida Al-Kaabi, the President & CEO of Qatar Petroleum.

The exploration blocks were offered as part of the Mexico Deep Water Round 2, Phase 4 bid round, which covered 29 blocks in the Perdido, Campeche and Mexican Ridges areas in the Gulf of Mexico.

The relevant legal agreements, including the concession agreements, are expected to be signed between the Mexican authorities and the various winning entities by May of this year.

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