Petronas discovers 2 deepwater oil in offshore Mexico

Malaysia's iconic Twin Towers are seen in the background of the Malaysian oil and gas company Petronas logo at a petrol station in Kuala Lumpur on August 13, 2014. Malaysian state energy firm Petronas is expected to announce its second quarter earnings later on August 13. AFP PHOTO / MANAN VATSYAYANA / AFP / MANAN VATSYAYANA

Petronas through its subsidiary, PC Carigali Mexico Operations S.A. de C.V. (PCCMO) has announced two deepwater oil discoveries in Mexico.

The two new discoveries are from the Polok-1 and Chinwol-1 exploration wells in Block 29, located in the Salina Basin offshore Mexico.

The Polok-1 well was drilled to a depth of 2,620 metres and encountered 200 metres of net oil pay in Lower Miocene deep marine clastic reservoirs.

On the other hand, the Chinwol-1 well, located 12 kilometres from Polok-1 was drilled to a depth of 1,850 metres and encountered net oil pay of 150 metres in the lower Pliocene formation.

According to Petronas, drilling of the Polok-1 exploration well commenced from February 29, consecutively followed by the drilling of the Chinwol-1 well.

“We are thrilled about the two discoveries which prove our continued focus in pursuing opportunities to grow our resources and reserves portfolio in Mexico’s prolific basins. Together with our partners, we look forward to further assessing the data to determine the commercial potential of these discoveries,” said Petronas Vice President of Exploration, Upstream, Emeliana Rice-Oxley.

“These two discoveries together with the oil discovery in the Monument exploration well, offshore United States Gulf of Mexico last month, marks three successful discoveries in a row, a significant milestone for Petronas and its ventures in the Americas,” she added.

Both wells are located in the water depths of 584 metres and 464 metres, respectively, approximately 75 km northwest off the coast of Tabasco.

Block 29 is operated by Repsol Exploración Mexico S.A. de C.V. with a 30 percent working interest, while PCCMO holds 28.33 percent, Wintershall Dea holds 25 percent and PTTEP Mexico E&P Limited, S. de R.L. de C.V. holds the remaining 16.67 percent.

 

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