Sino-Mexican Consortium Wwins Oilfield Eexploration Contract in Mexico
A consortium of one Chinese and two Mexican companies on
Wednesday won a contract to explore and extract
hydrocarbons from a field in eastern Mexico.
The consortium, which consists of three companies -
China's Shandong Kerui, and Mexico's Sicoval MX and
Nuevas Soluciones - obtained the contract for Area Six, a
field of 193 square kilometers in the Veracruz oil belt,
which has potential to provide liquefied gas.
The award was a close-run affair after the consortium
presented a proposal which was equal to two other bids in
terms of investment.
However, the Sino-Mexican consortium offered to pay
$2.179 million in cash for the contract, a superior sum
to its competitors, Mexican firm Carso Oil and Gas and a
consortium of four American and Mexican companies.
According to Mexico's National Commission of
Hydrocarbons, the Chinese firm is a subsidiary of the
Kerui oil firm, dedicated to oil and gas exploration and