US supermajor Chevron has signed an agreement with Anglo-Dutch Shell for a 40% stake in three deep-water blocks in Mexico’s Gulf, joining Shell as it begins one of the largest exploration programmes in the country since energy reforms, writes Julia Martinez.
Chevron will farm into Areas 20, 21, and 23, although the company provided no additional financial details. The deal shows a vote of faith in Mexico, increasing the company’s exposure to the country despite changes in the administration.
