Wall Street Journal Quotes Steven Otillar on Lack of Interest in Gulf of Mexico Deepwater Project

Akin Gump oil and gas partner Steven Otillar was quoted by The Wall Street Journal for its article “Mexico’s Pemex Says Oil Prices, Competition Kept Potential Partners Away,” on the absence of bidders to join the Mexican state oil company Petróleos Mexicanos (Pemex) in the development of offshore oil and gas fields.

Otillar, whose practice focuses on the development, finance, acquisition and divestiture of energy projects, said that the development cost for these fields was likely not as attractive as that of other opportunities. He added, “That, and companies keeping their powder dry for round 2.4 in early 2018,” referring to Mexico’s next round of deepwater auctions.