Big Oil set to bid in Mexico deepwater auction

Chevron has joined forces with Pemex and Japan’s Inpex to bid next week for the right to explore for oil and natural gas, the first time the state-owned operator will partner with private companies to develop crude in the Gulf of Mexico.

Seven groups and eight individual bidders have been qualified to participate in the Dec. 5 auctions that include the Trion field joint-venture with Pemex and other 10 deepwater blocks.

Source: Bloomberg