A total of 21 companies, including the Who’s Who of Big Oil, have registered to take part in Mexico’s deepwater oil auction to be held in December.

Shell, Chevron, ExxonMobil, British BP, French Total SA, Spanish Repsol, Norwegian Statoil and Mexican Pemex are among the major players now registered to bid for 10 blocks in the Gulf of Mexico, Prensa Latina reports.

Proposals for exploration and exploitation will be accepted on 5 December in this fourth phase of Mexican oil auctions.

Reserves in the blocks up for auction are worth an estimated US$10 billion, and this phase is being lauded as the most lucrative blocks. The blocks are in Perdido, near the US maritime boundary in the Gulf of Mexico, as well as in Cuenca Salina southward. Some 76 percent of the country’s potential oil resources are in the Gulf of Mexico’s deep waters, according to Forbes.

Source: http://oilprice.com/Latest-Energy-News/World-News/Over-20-Oil-Majors-Sign-Up-for-Mexicos-Most-Lucrative-Offshore-Oil-Blocks.html