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Bid Rounds Give Both Mexico and Brazil Strong Starts to 2018

Monday, January 1, 2018

Successful bid rounds in Mexico and Brazil during Q1 secured $3.1 billion in cash – a huge step forward for both countries in securing global interest in offshore development.

Brazil 15th bid round in March was responsible for 79% of this value, with huge individual bids from ExxonMobil, Petrobras, and Norway’s Statoil. Mexico’s deepwater Round 2.4 (January) and shallow water Round 3.1 (March) drew $649 million in cash bids combined.

A new report, Mexico: How Evolving Energy Reforms are Driving Foreign Investment, released by Evaluate Energy, Sproule and the Daily Oil Bulletin show that while Brazil’s round drew larger cash bids, significant changes within Mexico’s oil and gas market are having a profound impact. Read how in the full article and download the new report for the complete analysis.

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