Repsol Makes Two Significant Deepwater Oil Discoveries in Mexican Waters
Repsol has made two significant offshore oil discoveries in Mexico’s deep water with its Polok-1 and Chinwol-1 exploration wells in Block 29 in the Salina Basin. Both wells confirmed high quality reservoirs with excellent properties, encountering net oil pay of 200 meters and 150 meters respectively.
With these finds Repsol has posted six discoveries from six wells drilled worldwide this year, uncovering combined gross resources in excess of 650Mboe, in the US, Mexico and Colombia.
The discoveries extend Repsol’s long-term exploration track record in Latin America and North America. Repsol applies the latest-generation tools and technology in this field, combined with the skills of an experienced exploration workforce.
Both wells in Mexico were drilled below their cost and time estimations with the highest standards for health and safety and under strict health protocols to avoid the propagation of Covid-19 to both offshore and onshore facilities.
The consortium partners Repsol (30%, operator) PC Carigali Mexico Operations, the Mexican subsidiary of PETRONAS (28.33%), Wintershall DEA (25%) and PTTEP México E&P Limited (16.67%) will evaluate all data collected in the wells to prepare the discoveries’ appraisal plan, to be submitted to Mexico’s hydrocarbons regulator CNH before the end of the year.
The discoveries in Mexico’s Block 29 are just 12 km apart from each other, and 88 kilometers (55 miles) from the Mexican coastline of Tabasco, in water depths of approximately 600 meters (1,969 feet).
The Polok-1 exploration well was drilled to a total depth of 2,620 meters and encountered more than 200 meters of net oil pay from two zones in the lower Miocene. The Chinwol-1 exploration well was drilled to a total depth of 1,850 meters and encountered more than 150 meters of net oil pay from three zones in the lower Pliocene.
Wireline Formation testing performed on both wells has shown good flow capacity in multiple stations along the Miocene and Pliocene reservoir units.
Repsol recently received approval from the CNH to drill the company’s third deep water exploration well offshore Mexico, located in Block 10 offshore Veracruz, which will be spudded in the following days using the same Maersk Deep Water Valiant drillship.