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Mexico unveils deep-water oil blocks for auction

Friday, December 18, 2015

Mexican authorities unveiled the first deep-water oil and gas blocks it will auction next year as part of a historic energy opening to foreign and private companies, hoping to draw tens of billions of dollars in investments for 10 areas in the Gulf of Mexico despite stubbornly low oil prices.

Energy Minister Pedro Joaquin Coldwell said the highly anticipated deep-water auction won’t be held until sometime late next year because of the adverse price environment.

Source: Wall Street Journal