China Offshore Corporation begins deep water drilling in the Gulf of Mexico

The China Offshore Corporation will invest up to US$ 289 million in a 4 to 10-year period to explore block 1 of the deep waters “Lost Fold Belt” in the Gulf of Mexico, after the National Hydrocarbons Commission (CNH) authorized its plan of exploration that includes drilling a minimum of two and maximum four wells in the area.

According to the plan on one of the two blocks that were awarded to the Chinese company in Round 1.4, during the first quarter of 2019 will drill the “Ameyali” well to a water depth of 1,440 meters and will reach a depth of 4,700 meters. The investment allocated a this well alone will reach more than US$ 90 million, according to the company.

If it is successful, it will seek to drill its boundary, or it could drill a second exploratory well, named “Tlami”, to look for light oil and gas, also with its boundary structure. “It will depend on the results obtained in the process,” explained the commissioner of the CNH, Alma America Porres, during the fifth ordinary session of the year of this organization.

Among China Offshore Corporation commitments is the realization of 21 different activities ranging from acquisition of three-dimensional seismic to interpretations of information that will last several months. The company presented an estimate of 478 million barrels as prospective resources in the area and considered that in the event of success they could be transformed into total reserves of 225 million barrels, equivalent to just over 1% of Mexico’s total reserves.

MexicoNow

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