A consortium comprised of Sierrra, U.S. company Talos Energy
and Britain’s Premier Oil won two blocks that were among 14 production-sharing
contracts offered at the outset of Mexico’s sweeping energy sector opening.
The two blocks are located in the shallow waters of the Gulf
of Mexico, and each one will require an average investment of $1.3 billion over
the course of five years.
Mexico’s government hopes the landmark energy opening will
fuel more robust growth in Latin America’s second biggest economy.
As part of the overhaul, from 2017 private companies will be
able to import and distribute gasoline in Mexico. From 2018, they will be able
to refine crude oil and sell gasoline at market prices, putting them in direct
competition with state-run Pemex.