Fieldwood Energy

Fieldwood Energy E&P México is a subsidiary of PJSC LUKOIL and the operator of Contractual Area 4. Area 4 covers 58 square kilometres and includes the Ichalkil and Pokoch fields, located in shallow waters in the Gulf of Mexico, approximately 80 kilometres off the coast of Ciudad del Carmen, in Campeche state.

The Ichalkil and Pokoch fields are estimated to contain 2P reserves of 445 million barrels of light oil and 12.7 bcm (450 bcf) of gas at average drilling depths greater than 5,500 metres. Following its successful bid for the fields in 2015, Fieldwood Energy became the first US company to drill a well offshore Mexico in more than 75 years.

Fieldwood’s contract with the Mexican authorities covers exploration, development and extraction of hydrocarbons for a period of 25 years, which can be extended for two additional periods of five years each.

In 2018, significantly expanded its deepwater Gulf of Mexico presence through the acquisition of Noble Energy’s deepwater assets for a total consideration of USD 710 million.

Since the start of production Fieldwood Energy has produced more than 16.4 million boe at Ichalkil and Pokoch. The company produces light oil which it sells to Pemex for blending and to the domestic refining market.

Fieldwood Energy is targeting production levels of 100,000 bopd and 3.68 mcm (130 mcf) per day of natural gas per day by 2026. To this end, Fieldwood Energy is investing in additional subsea pipelines and wellhead platforms, as well as other ancillary facilities.

Company website: https://www.fieldwoodenergy.com/