DEA Deutsche Erdoel AG signs exploration licence agreement with Pemex
Tuesday, Sep 26, 2017

DEA Deutsche Erdoel AG and the Mexican state company Pemex have signed the licence contract for shallow water Block 2. The licence was awarded to the consortium by the National Hydrocarbons Commission (CNH) in the bid round 2.1 in June 2017. DEA holds a 30 percent share, with Pemex holding the remaining 70 percent as operator.

“We are pleased to now start the joint exploration work together with our partner and operator Pemex in this ambitious project,” says Juan Manuel Delgado, President of Deutsche Erdoel Mexico. “We are looking forward to a fruitful cooperation. Deutsche Erdoel will actively contribute to the partnership, with our extensive technical knowledge and experience from numerous international onshore and offshore operations, to generate considerable value for the project,” he adds.

Block 2 is the first licence participation for DEA Deutsche Erdoel AG in Mexico. As part of its strategy, the company aims to further build a portfolio in the country.

Block 2 comprises 549 square kilometres and is located in the prolific basin Tampico-Misantla, in the South-Western Gulf of Mexico. Water depth ranges from 40 to 260 metres. The initial four-year exploration phase includes the drilling of one commitment well.

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