Bidders set for next week's Mexico deepwater oil auction

|By:, SA News Editor

Chevron (NYSE:CVX) is teaming up with Mexico's Pemex and Japan’s Inpex to bid for the right to explore for oil and natural gas in Mexico's first-ever deepwater auction, set for Dec. 5.

The auction marks the first time Mexico's state-owned operator will partner with private companies to develop crude in the Gulf of Mexico, and is one of seven groups and eight individual bidders to qualify for participation.

Total (NYSE:TOT) is joining forces with BP and Statoil (NYSE:STO) in one group, and with ExxonMobil (NYSE:XOM) in another, while Eni (NYSE:E) and Lukoil (OTCPK:LUKOY, OTC:LUKOF) also joined up, and Anadarko Petroleum (NYSE:APC) and Royal Dutch Shell (RDS.A, RDS.B) formed another group; other companies involved include BHP, CEO, MUR.

The Mexican regulator has not specified which bids are for the Trion field joint venture with Pemex or for the other areas.