DEA Deutsche Erdoel Signs Exploration Licence Agreement with Pemex
DEA Deutsche Erdoel and the Mexican state company Pemex have signed the licence contract for shallow water Block 2.
The licence was awarded to the consortium by the National Hydrocarbons Commission (CNH) in bid round 2.1 in June 2017. DEA holds a 30% share, with Pemex holding the remaining 70% as operator.
“We are pleased to now start the joint exploration work together with our partner and operator Pemex in this ambitious project,” says Juan Manuel Delgado, President of Deutsche Erdoel Mexico. “We are looking forward to a fruitful cooperation. Deutsche Erdoel will actively contribute to the partnership, with our extensive technical knowledge and experience from numerous international onshore and offshore operations, to generate considerable value for the project,” he adds.
Block 2 is the first licence participation for DEA Deutsche Erdoel in Mexico. As part of its strategy, the company aims to further build a portfolio in the country. Block 2 covers 549km2 and is located in the prolific basin Tampico-Misantla, in the South-Western Gulf of Mexico. Water depth ranges from 40m to 260m. The initial four-year exploration phase includes the drilling of one commitment well.