The Mexican deep-water sector of the region has long been the subject of mouth-watering reports of untapped potential - about
30 billion barrels of oil equivalent, according to state oil company Pemex - but budget restrictions, technical inexperience and a lack of contracting mechanisms able to attract deep-water partners, help explain the rig-free horizons in the Mexican deep-water play.
Seismic surveys carried out by Pemex between 2003 and 2005 threw up hundreds of exploration prospects, covering plays such as the northern subsalt belt, the Catemaco fold belts and the Mexican ridges, along with deeper water plays such as the Perdido fault belt and the Gulf Salt province.
Targets
