Mexico Launches Second Round of Oil Auctions

By Robbie WhelanFeaturesDow Jones Newswires

Mexico launched its second round of oil block auctions Monday, offering production-sharing contracts in 15 offshore areas in the Gulf of Mexico.

Germany's DEA Deutsche Erdoel and Mexican state oil company Petróleos Mexicanos won the second of the shallow-water areas up for grabs, offering the government a share of 57.92% of the operating profit from the block, outbidding Italy's ENI SpA and Russia's Lukoil, which submitted a bid of 55.14%.

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The first and third of the 15 blocks received no offers from the 20 groups that registered to bid.

The first round of auctions under Mexico's 2013 overhaul of the energy sector ended in December with the awarding of eight out of 10 deep-water blocks in the Gulf of Mexico. The government has also awarded dozens of offshore and onshore areas.

Write to Robbie Whelan at robbie.whelan@wsj.com

(END) Dow Jones Newswires

June 19, 2017 12:14 ET (16:14 GMT)