BP to drill first deepwater oil well in Mexican block

The four-year exploration plan for the block located in the Gulf’s Salina Basin is also expected to lead to an investment of USD$199.5 million

BP to drill first deepwater oil well in Mexican block
The logo of BP is seen at a petrol station - Photo: Arnd Wiegmann/REUTERS
English 23/03/2018 10:18 Reuters Mexico City Actualizada 10:29

British oil major BP will drill its first deepwater exploration well at a block it operates in the southern Gulf of Mexico during the third quarter of 2020, according to a plan approved Tuesday by Mexico's National Hydrocarbons Information Center (CNH).

The four-year exploration plan for the block located in the Gulf’s Salina Basin is also expected to lead to an investment of USD$199.5 million and add up to 75 million barrels of oil equivalent (boe) in reserves, according to the Mexican oil regulator.

Norway’s Statoil and France’s Total are equity partners in the BP-led consortium, which won the development rights to the block in Mexico’s first-ever deepwater oil auction in late 2016.

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