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Capricorn and Citla win block in Mexico shallow water oil auction

Reuters - UK Focus

MEXICO CITY, June 19 (Reuters) - A consortium comprising Capricorn Energy, a subsidiary of Britain's Cairn Energy (LSE: CNE.L - news) , and Citla Energy won a close contest to secure the ninth shallow water oil and gas block put up for auction on Monday, Mexico's oil regulator said.

The consortium was tied with Italy's Eni (LSE: 0N9S.L - news) after the initial bids were announced but won due to making a larger cash offer in a tie-breaker.

Block 9 lies off the southern Gulf state of Tabasco, and includes estimated prospective resources of up to 571 million barrels of oil covering an area of 217 square miles (562 sq km). (Reporting by Adriana Barrera)