Pemex has gained approved for an exploration plan on a block won by the company in Mexico's Round 2.4, writes Kathrine Schmidt.

The plan involves the drilling of one exploration prospect in the Perdido foldbelt in late 2021.

The block is located about 217 kilometres (135 miles) south-east of the city of Matamoros off Tamaulipas state in water depths of 2100 metres, according to a plan presented to the country’s National Hydrocarbons Commission. Drilling would be planned for one of three prospect options in late 2021 — Tlaki-1EXP, Ixtlampa-1EXP or Gueyak-1EXP.

Investments would range from about $100 million to $140 million, depending on what option is chosen.

Pemex committed to a single well as part of its bid on the block in Round 2.4. It also captured a block on its own in the Mexican Ridges area, where it also committed to a single probe.

The state-led Mexican company has conducted an ambitious deep-water drilling programme on its own in the Perdido foldbelt over the past several years, with between two and four semi-submersible rigs at work.

However, that work has been scaled back as Mexico's President Andres Manuel Lopez Obrador has pushed the company to develop its shallow-water and onshore discoveries.

Pemex is also involved in other deep-water acreage in partnerships with international oil companies, including farm-out partner BHP Billiton on the Trion discovery as well as Chevron and Shell in blocks won in open rounds.

Weekly

Pemex planning to drill probe in Perdido foldbelt in 2021