Mexico Sets Its First Deepwater Gulf Oil Auction

Contract awards for Mexico's first-ever deepwater oil auction covering 10 potentially lucrative blocks are expected to take place on December 5, oil regulator CNH said on Friday, a tender that will test investor interest given a worldwide price slump.

The 10 blocks are located in the country's territorial waters in the Gulf of Mexico.

A formal vote to approve the date is expected to pass by a unanimous vote of CNH commissioners.