Chevron/Inpex/Pemex block 3 exploration

Overview:

• Chevron/Inpex/Pemex block 3 exploration
• Mexico state-owned oil company Pemex, US oil company Chevron, and Japanese oil company Inpex have signed a contract to explore block 3 north of the Perdido area.
• This marks the first time that Pemex has partnered with private companies to compete for a bid.
• The parties won a bid during Mexico’s deep-water hydrocarbon tender in December 2016.
• This move was made possible by 2013 hydrocarbon reforms which opened the hydrocarbon sector to private investment and ended Pemex’s monopoly.

Rani Mehta -- Journalist