According to IPD’s John Padilla, “Mexico’s Round 1.4 auction was a resounding success, particularly given the commitments it required, and the current oil price environment. Twelve new companies will now enter Mexico’s deep-water arena to begin delineating one of the world’s last under-explored offshore areas. The implications are vast; it will be fascinating to watch this ecosystem evolve. The biggest shift will likely occur within Pemex.”

To read more, please download the Latin America Energy Advisor.