Gardere attorneys Roberto Arena Reyes Retana, managing partner of the Mexico City office, and Daniel Aranda Rabago, partner in the corporate group, were quoted in various stories by Mexican publications on the most recent round of bidding for access to drilling areas in the Gulf of Mexico.
“Currently, Shell, Chevron and BP perform deep-water drilling on the United States side of the Gulf of Mexico, which gives them a competitive advantage over other oil companies because they already have an infrastructure that may be transferred a few kilometers to Mexico hence reducing their costs,” Aranda said.
“The competitiveness of these bidding processes has been proven since Round 1.4 in December 2016. The legal framework for deep-water exploration takes into account international regulations and accepted industry risks, showing that the government has been sensitive to the participants' concerns,” said Arena. “It is foreseeable that Round 2.4 will surpass the success achieved two years ago.”