Super-majors to drill Mexico ultra-deepwater

MEXICO CITY, March 26, 2018 – Total and ExxonMobil have been given the green light to drill a well in the ultra-deep waters of the Gulf of Mexico in October, international media reported over the weekend.

The super-majors will target the Etzil structure, located in the Perdido Fold Belt Area 2 block, and estimated to contain 2P reserves of 2.7 billion boe. According to the National Hydrocarbons Commission, which approved the exploration plan on Friday, the companies could recover as much as 916 million boe from Etzil.

Perdido Fold Belt Area 2 was awarded to operator Total (50%) and partner ExxonMobil (50%) in December 2016 as part of Round 1.4. The companies are obligated to drill a total of two wells in the block and invest at least USD 129 million during the four-year exploration period.

Read our latest insights on: