Cairn Energy secures interest in two licences offshore Mexico
EDINBURGH -- Cairn has announced that it has secured interests in two licences in the Mexico offshore bid round.
The licences (one operated and one non-operated, covering ~1,100 km2) are located in the Gulf of Mexico in the shallow water Sureste basin, in water depths of 100-500 m and ~50 km offshore:
- Block 7: ENI (45% operator), Cairn (30%), Citla (25%)
- Block 9: Cairn (65% operator), Citla (35%)
Multiple attractive prospects in a variety of play types have been identified within this highly prolific, proven hydrocarbon province which has recently opened to international oil companies. The Mexican Gulf region is significantly under-explored compared to the nearby analogous United States Gulf of Mexico.
The licences were secured by Capricorn Energy Limited, a wholly owned subsidiary of Cairn Energy PLC, with the Production Sharing Contracts scheduled to be signed later this year with the Government of Mexico. The contract awards are subject to the final approval of the authorities. Cairn anticipates exploration drilling to commence in the 2019-2020 period on both blocks.
