Repsol-led consortium discovers oil in Gulf of Mexico fields

5 May 2020 (Last Updated May 5th, 2020 16:16)

A consortium led by Spanish energy firm Repsol has discovered two deepwater oil fields in the Gulf of Mexico.

Repsol-led consortium discovers oil in Gulf of Mexico fields
The oil discovery means Repsol has made six discoveries from six wells this year. Credit: Andrea Wright.

A consortium led by Spanish energy firm Repsol has discovered two deepwater oil fields in the Gulf of Mexico.

The discovery was made at the Polok-1 and Chinwol-1 exploration wells, in Block 29 of the Salina Basin. These wells are 12km from each other, and 88km from the Mexican coastline of Tabasco. They stand in water depths of around 600m.

Repsol operates and owns a 30% stake in the consortium. Other partners include Petronas Mexican subsidiary PC Carigali Mexico Operations (28.33%), Wintershall DEA (25%) and PTTEP México E&P Limited (16.67%).

Including these discoveries, Repsol has posted six discoveries from six wells drilled this year, making combined gross resources of up to 650 million barrels of oil equivalent (Mboe), across the US, Mexico and Colombia.

In a press statement, Repsol stated: “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.”

According to Repsol, the Polok-1 exploration well was drilled to a depth of 2,620m and encountered over 200m of net oil pay from two zones in the lower Miocene formation.

Meanwhile, the Chinwol-1 exploration well was drilled to a total depth of 1,850m. It encountered about 150m of net oil pay from three zones in the formation of lower Pliocene.

Recently, Repsol received approval from Mexico’s hydrocarbons regulator CNH to drill the company’s third deep water exploration well offshore Mexico, located in Block 10 offshore Veracruz.

This well will be drilled by the Maersk Deep Water Valiant drillship.

Last month, Petrofac extended the scope of its contract with Repsol Sinopec Resources UK for the latter’s offshore maintenance operations across the UK North Sea.