Haynes and Boone, LLP represented Chevron Corporation in its winning bid to explore a deep water block in the Gulf of Mexico in association with a consortium consisting of Mexico’s state oil company, Pemex, and Japan’s Inpex Corporation.
This marks the first time that Pemex participated in a bidding process with private international oil companies for a block in Mexico. It is the culmination of Mexico’s landmark energy reform in 2013, which opened the country’s oil and gas and power sectors to private participation.
The deep water block, which is located off the coast of the Mexican state of Tamaulipas, was awarded to the consortium in a competitive bidding process launched by the National Hydrocarbons Commission of Mexico.
Chevron was represented by a Haynes and Boone team led by Mexico City Partner Nicolas Borda, who was assisted by Senior Counsel William Hunt Buckley; Counsel Eduardo Corzo Ramos and Thomas Heather; Associate Evert Sanchez Alonso in Mexico City and Denver Counsel Bob Thibault.
“We were breaking new ground on many legal issues," Borda said. "It was really important to have all parties involved understand the legal implications and feel comfortable with this very important long-term contract that governs the relationship between Chevron, as operator, and two non-operators for the entirety of the contract."