Vice President of Exploration Upstream Petronas, Emeliana Rice-Oxley said the inclusion of the national oil company in the deepwater arena in Mexico as Petronas meet strategic needs in business growth that focuses on upstream exploration opportunities and provide upstream portfolio with long-term potential.

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“We appreciate the opportunity given to Mexican authorities involved in the bidding and tender process,” he said in a statement here today.

Towers Mexico will be the operator for Block 4, covering an area of 2,600 kilometers (km) square with a depth of between 800 and 1,600 meters.

Period early stages of exploration of the block is four years with Petronas Mexico and Sierra will concentrate on acquisition and processing of seismic data.

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Meanwhile, for the Block 5 covers an area of 2,600 square km with a depth of 700 to 1,100 meters will be handled Murphy Sur with early stage exploration period of four years also includes a commitment for the well work program.

On November 29, Petronas among bidders in the final list of pre-qualified for the auction’s first deepwater oil projects Mexico involving 15 companies, eight of them were individual operators while seven others are consortium.

The auction marks the first phase of the fourth round of the tender, which is the majority of the energy reform launched in 2013 to end the monopoly enjoyed by Pemex since decades and is intended to restore the production of raw materials decreased.

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Tender highly anticipated including auction to select a partner for the Mexican oil company Pemex to develop the field and 10 field Trion individually sea in the four areas clustered around Trion sea border in the southern part of Mexico and the United States.

All fields that are in the waters in the Gulf of Mexico, the Perdido Fold Belt and the Salina valley along the southern border of the bay. Overall, it is estimated that awarded the oilfield contains 8.4 billion barrels of oil