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International energy producers that sat out Mexico’s historic oilfield auction this week will be among the fiercest competitors for potentially massive deepwater prospects that go up for sale as soon as next month.
Exxon Mobil Corp., Chevron Corp. and Total SA all passed on the first 14 shallow-water oil blocks auctioned by Mexico today in the country’s first-ever sale of territory in the Gulf of Mexico. Only one of Mexico’s first five oil blocks auctioned received a qualifying bid.
Mayor Mitch Landrieu’s office announced in a news release Thursday the money will be used for “resilience initiatives, including water management and coastal and ecosystem restoration.”
BP has struck a deal to settle all federal, state and local claims against it for its role in the Deepwater Horizon oil spill for $18.7 billion. It would pay out that sum over 18 years, BP said Thursday.
The Houston firm sold its East Bay Field, about 89 miles southeast of New Orleans, to an undisclosed private buyer for $21 million, the company announced Wednesday.
The cost estimate means the remaining legal aftermath of the Deepwater Horizon oil spill, which includes impending environmental fines and settlement payments, could run up another $16 billion to $24 billion as the tangle of litigation around the spill unfolds for the next few years.
The accident at the Akal-H platform is Pemex’s third since April 1, when seven people died in a fire at the Abkatun A- Permanente platform. Two other workers died last month when a jack-up rig operated by Typhoon Offshore SAPI de CV collapsed in the Campeche Bay.
It’s the first time since December that Transocean has drawn more than $100 million in contracts this year, well above the monthly average of $22 million it saw in the first five months of 2015.
Kinder Morgan is seeking Federal Energy Regulatory Commission to build the $8 billion LNG export project near Pascagoula, Mississippi. The applicants are seeking FERC approval no later than June 17, 2016.