Petronas awarded shallow water block in the Gulf of Mexico

Petronas awarded shallow water block in the Gulf of Mexico

Malaysian oil and gas firm Petronas has announced that its subsidiary PC Carigali Mexico Operations, S.A. de C.V has been awarded shallow water Block 6, in the Gulf of Mexico’s Salina basin.

Block 6, which covers an area of around 559km2 in water depths of between 30-80m, is the third block to be awarded to the state-owned firm in the Salina basin.

Petronas was handed deepwater Block 4 and Block 5 last year, in Mexico’s first ever auction of its deepwater exploration areas following the lifting of a 70-year monopoly of the resources sector by state-run Petroleos Mexicanos (Pemex).

The block will be operated by PC Carigali Mexico in a 50-50 joint venture with Ecopetrol, the national oil company of Colombia.

“Mexico is largely underexplored and holds substantial material opportunities. We are very pleased to add Block 6 to our growing exploration portfolio in Mexico, and be one of the early movers in this basin,” said vice president of exploration, upstream, Emeliana Rice-Oxley

“This is aligned with our strategy to explore for material oil in largely underexplored prospective regions.”

Petronas will open a new office in Mexico City to support its growing operations in the Central American nation.