Mexico approves five offshore projects

Mexico’s oil regulator National Hydrocarbons Commission (CNH) has approved the drilling plans for five offshore projects, for a total investment commitment of $380 million.

Since 2015, the country’s oil regulator gave approvals for more than 100 oil and gas projects. CNH has so far approved the drilling of 23 exploration wells for next year.

Talos Energy will be operating a shallow water block project, with a $251 million investment commitment.
Talos and its partners, including U.K.’s Premier Oil, and Mexico’s Sierra Oil & Gas, are expected to drill at least one new well in January 2019 as part of the Area 7 contract. The drilling programme will be carried out next to the Zama discovery made last year. The consortium will also drill a second ‘contingent’ well.

A contract has been awarded to McDermott International to provide design work and engineering services for the Zama project.

Other project approvals include:
• Russian company, Lukoil, is planning to drill its Otomi-Oeste well between next September and November. The company is also set to incur an expenditure of $72 million on its Area 12 block next year.

• Italian company, Eni, is looking to drill its Saasken-1 well in its Area 10 block with a planned $51m investment next year. The company will also invest $5 million in the Area 14 block.

• Spanish firm Repsol received approval for its Area 11 block.

Image courtesy of Breaking Energy
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