The first well, which will be drilled 27 km north of the port of Dos Bocas, on the Gulf of Mexico’s southern edge, will start drilling this October, at a cost of USD 41.7 million.
This is the first time a well will be drilled in Mexican waters by a non-Pemex company since the 2013 energy reform that put an end to Pemex’s monopoly on the country’s upstream sector.
Drilling is to take place in the shallow-water Hokchi field, which was awarded to Hokich Energy, a consortium of Argentina’s Pan American Energy and E&P Hidrocarburos y Servicios in September 2015. Known as contractual Area 2 during the Round One tender launched in July 2015, the 40-square-kilometre block comprises 334 million barrels of remaining oil reserves.
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