December 9, 2016 – PETRONAS has
confirmed that it has been awarded deep water Block 4 and Block 5 in the Gulf
of Mexico’s Salina Basin, following Mexico’s first ever auction of its deep
water exploration areas.
Block 4 has been awarded to a 50:50
partnership between PC Carigali Mexico Operations, S.A. de C.V. (PETRONAS
Mexico), a wholly owned subsidiary of PETRONAS, and Sierra Oil & Gas
S. de R.L de C.V. (Sierra).
Block 5, on the other hand, was awarded to a
consortium led by Murphy Sur, S. de R.L. de C.V. (30 per cent), with partners
PETRONAS Mexico (23.34 per cent), Ophir Energy (23.33 per cent) and Sierra
Offshore Exploration (23.33 per cent).
PETRONAS Mexico will be the operator of Block
4, an area of about 2,600 square kilometres in water depths of between 800
metres and 1,600 metres. The initial exploration period for the block is four
years where PETRONAS Mexico and Sierra will concentrate on seismic data
acquisition and processing.
Block 5, which covers an area of about 2,600
square km in water depths of 700 metres to 1,100 metres, will be operated by
Murphy Sur, with an initial exploration period of also four years including a
work program commitment of one well.
PETRONAS’ Vice President of Exploration,
Upstream, Emeliana Rice-Oxley conveyed appreciation towards Mexico’s
authorities for the opportunity to participate in the bid and the tender
“PETRONAS’ entry into Mexico’s deep
water arena provides a strategic fit for our business growth,
focusing on upstream exploration opportunities and portfolio with potential for
long-term value,” said Ms Rice-Oxley.
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