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Statoil scoops deepwater blocks in Mexico bidding round

Statoil
Statoil

Statoil was awarded two blocks in Mexico’s Saline Basin in the country’s first ever deepwater tender.

The Norwegian operator was awarded blocks one and three, which cover about 5,650 km2 in the largely unexplored deepwater areas.

A total of 10 deepwater blocks were on offer in the competitive bid round, with four in the Perdido Area and six in the Saline Basin.

“Mexico’s opening presents the industry with great opportunities, so we are pleased to secure an early position. The award grants Statoil access to significant frontier acreage in an underexplored part of offshore Mexico. The blocks are virtually untested, with considerable subsurface uncertainty, but with play-opening potential,” said Tore Løseth, Statoil’s vice president for exploration in the US and Mexico.

The blocks awarded are in water depths ranging from about 900 – 3,200 metres.

“The licences awarded reinforces Statoil’s exploration strategy of early access at scale. This further strengthens and develops the optionality in Statoil’s long-term international portfolio,” added Løseth.

“With the Deepwater tender bringing Mexico’s historic Round 1 to a conclusion, we are starting to see the fruits of Mexico’s comprehensive energy reform. Statoil has a long-term perspective in Mexico, and we look forward to contributing to developing the energy sector by assessing the blocks awarded.”

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