Major players in the oil and gas industry have placed a bet on Mexico’s oil and gas rounds. Of the 11 companies that have committed the highest amount of investment, three are Mexican: PEMEX, Sierra Oil & Gas and Jaguar E&P. It is also from assignations given to three of these 11 players that the discoveries of Zama, Hokchi and Amoca arose. These significant discoveries in shallow waters are expected to be just the beginning of a series of milestones in Mexican offshore activities. With Sierra Oil & Gas having also been awarded blocks during deepwater Rounds 1.4 and 2.4, the expectations increase. Shell, the company with the highest amount of committed investment and tiebreaker payments, has been more selective by developing partnerships with only four other companies: PEMEX, Qatar Petroleum, Total and Atlantic Rim. While its consortium with Atlantic Rim did not pay off, its partnership with Qatar and PEMEX secured it four blocks during Round 2.4 and two during Rounds 2.4 and 3.1.