A consortium of Mexican state oil firm Pemex and Colombia’s Ecopetrol made the winning bid for the eighth shallow water oil and gas block put up for auction on Monday, Mexico’s oil regulator said.

Block 8 lies off the southern Gulf coast state of Tabasco, and includes estimated prospective resources of up to 413 million barrels of oil over an area of 226 square miles (586 sq km).

Source: www.worldoil.com