HAMBURG, Germany – DEA Deutsche Erdoel and PEMEX have signed a license contract for shallow-water block 2 offshore Mexico.
PEMEX operates with a 70% share, with DEA holding the remaining 30%.
DEA says that it aims to build a portfolio of interests in Mexico.
Block 2 spans 549 sq km (212 sq mi) in the Tampico-Misantla basin in the southwestern Gulf of Mexico, in water depths of 40-260 m (131-853 ft). The initial four-year exploration phase commitments include drilling of one well.