Mexico bidders saw value despite oil prices

摘要

Mexico's historic deepwater auction on its side of the Gulf of Mexico suggests E&P companies believe frontier exploration and development can be profitable even in a much lower oil price environment than had persisted for many years before industry's recent downturn. Winners of eight of ten blocks also likely assumed some improvements in technology over the 20 or 25 years of their contracts which would create more value for the deals, Alejandra Leon, director for Latin American upstream at consultancy IHS, said.