Deutsche Edroel acquires Mexico's Sierra Oil & Gas

Mexico (Notimex) - German firm Deutsche Erdoel has signed a deal to acquire Mexico's Sierra Oil & Gas, which has six exploration and evaluation blocks in the country. 

The blocks include part of Block 7, which includes a significant part of Zama, one of the largest shallow-water discoveries in the past 20 years. 

"The deal highlights our confidence in the future of Mexico's energy industry. Once the merger is completed, it will strengthen Mexico even more as a central region for the company," said Erdoel's CEO, Maria Moreaus. 

Photo: Public Domain (CC0)

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