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Mexico calls bidders for first deep-water oil and gas blocks

Staff writer |
Mexico's government is offering its first deep-water oil and gas exploration blocks to bidders.

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The secretary of energy says 10 blocks will go up for bid in September 2016, four of them in the "Lost Belt" in the Gulf of Mexico maritime boundary between Mexico and the U.S.

The auction was set for late next year to give multinational companies time to analyze the projects.

So far, Mexico has awarded contracts for exploration and production on land and in shallow water since the 2014 reform that ended seven decades of state monopoly on the oil business.

Mexico produces 2.2 million barrels a day.

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