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Mexico oil regulator approves exploration plans

MEXICO CITY, November 27, 2018 – Mexico’s National Hydrocarbons Commission has authorised 2019 exploration programmes at Pan American Energy’s Contract Area 2, Petronas’ Southeastern Basins Area 6 and Eni’s Southeastern Basins Area 7, international media reported Monday.

 

The commission approved Pan American Energy’s USD 394.4-million investment in the Hokchi-4DEL and Hokchi-7 wells, as well as new production facilities, Upstream Online reported.

Petronas will spend between USD 87.5 million and USD 99 million on its work programme, which includes either carrying out a new 3D-seismic survey or reprocessing existing data, as well as drilling one well between Q4 2019 and Q2 2021.

Eni’s Southeastern Basins Area 7 plan includes the drilling of at least one well by May 2019 and preparatory work for a second well by late 2020. Altogether, Eni expects to invest USD 36.6 million-53.5 million during this stage. Further work at the block will depend on the results of these first wells.

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