Mexico’s deepwater bid round winners revealed
More companies have issued details of their successful bids under Mexico’s first deepwater bid round.
Total will operate block 2 in the Perdido basin with a 50% interest, the remainder held byExxonMobil. The block covers an area of 2,977 sq km (1,149 sq mi) in water depths ranging from 2,300-3,600 m (7,546-11,811 ft).
In the Salina basin, Total, Statoil, and BP are equal partners (33.4%) in block 1, covering 2,381 sq km (1,093 sq mi), and block 3, covering 3,287 sq km (1,269 sq mi).
The winning bids for both blocks consisted of an additional royalty of 10% (on potential future revenues) and an additional work program equivalent to one biddable well per block. Each block also has a minimum work program as defined by the authorities, including a variety of geological activities but no required wells.
Block 3 covers 1,687 sq km (651 sq mi) in water depths of 500-1,700 m (1,640-5,577 ft).
The concession is in an area where new hydrocarbon discoveries are expected, close to thePEMEX-discovered Trion oil field and other producing fields on the US side.