Shell Investing in Mexican Deepwater

June 11, 2019

The Shell-operated Appomattox platform was recently brought online in the US Gulf of Mexico (Photo: Shell)
The Shell-operated Appomattox platform was recently brought online in the US Gulf of Mexico (Photo: Shell)

Mexico's independent oil regulator on Tuesday approved deepwater exploration plans for five areas operated by Royal Dutch Shell Plc in Mexican waters near the U.S. maritime border.

The plans commit the Anglo-Dutch oil major to invest at least $397 million over the next four years, but if the drilling proves successful it could grow to some $1.3 billion, according to the regulator, known as the National Hydrocarbons Commission, or CNH.

Shell won exploration and production rights to nine deepwater blocks in the Gulf of Mexico at an auction run by the CNH early last year.

Drilling plans for the remaining four deepwater blocks from the company are expected to be presented shortly, CNH Commissioner Sergio Pimentel said, without specifying the date, at a session broadcast online.


(Reporting by David Alire Garcia; Editing by Richard Chang)



Current News

Relieving the Pressure of Subsea P&A Activity

Relieving the Pressure of Subsea P&A Activity

DeepOcean Wins IMR Work from Equnior

DeepOcean Wins IMR Work from Equnior

Zentech, WW Industries Partner

Zentech, WW Industries Partner

Saudi Aramco Sets Record $25.6 Bln IPO

Saudi Aramco Sets Record $25.6 Bln IPO

Timeline: Saudi Aramco's Winding Road to IPO

Timeline: Saudi Aramco's Winding Road to IPO

Petrobras CEO Says Too Early to Make Carbon Commitment

Petrobras CEO Says Too Early to Make Carbon Commitment

Cyprus Petitions The Hague to Safeguard Offshore Rights

Cyprus Petitions The Hague to Safeguard Offshore Rights

Magazine

Offshore Engineer (Sep/Oct 2019)

This issue of Offshore Engineer is dedicated to Big Data and Digitalization

Archive
Subscribe

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week