China Offshore Oil Wins First Block in Mexico Deep Water Auction

Mexico awarded China Offshore Oil Corporation the first block tendered from the Gulf of Mexico's Perdido Fold Belt off the U.S.-Mexico maritime border, in a historic deep water oil and gas auction on Monday.

 

Block 1 is a nearly 650 square mile (1,678 square km) block which the energy ministry believes contains some 625.8 million barrels of oil equivalent (boe) in extra light crude.


(Writing by Dave Graham)