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Ophir Energy Awarded Blocks 10 & 12 in Mexico's Offshore Bid Round 2.4

Source: www.gulfoilandgas.com 2/2/2018, Location: South America

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Ophir Energy has announced that, together with its joint venture partners, it has been awarded Block 10 and Block 12 as part of the Mexico offshore bid round 2.4.

Both of these licences are located in the Ridges basin, which features a proven hydrocarbon system and material prospectivity. The licence awards are subject to final approval from the Mexican authorities.

The Block 10 partnership is comprised of Repsol (operator), Petronas and Ophir (20% interest). The block covers an area of 2,000 km2 in water depths between 500m and 2,000m.

The Block 12 partnership is comprised of Petronas (operator), PTTEP and Ophir (20% interest). The block covers an area of 3,000 km2 and is in water depths between 1,500m and 2,000m.

The partners have already identified multiple leads and prospects on the existing data within what is a prolific, proven hydrocarbon province.

Ophir Energy CEO, Nick Cooper, said:

'The addition of Blocks 10 and 12, to our existing position in Block 5, establishes Ophir as a significant acreage holder in the Mexican Ridges and Sureste Basins. Since the recent opening of the Mexican offshore to foreign investment, the first two exploration wells to have been drilled have both resulted in significant oil discoveries. These two awards add high impact exploration in a world class hydrocarbon system to Ophir’s exploration portfolio'.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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