PETRONAS UNIT SE­CURES MEX­I­CAN OIL BLOCK

New Straits Times - - Business -

KUALA LUMPUR: Petro­liam Nasional Bhd’s sub­sidiary, PC Cari­gali Mex­ico Op­er­a­tions SA de CV, has been awarded shal­low wa­ter Block 6 in the Gulf of Mex­ico’s Salina Basin.

Block 6 cov­ers an area of about 559 sq km in wa­ter depths of between 30 and 80 me­tres and will be op­er­ated by PC Cari­gali Mex­ico in a 50:50 part­ner­ship with Ecopetrol, the na­tional oil com­pany of Colom­bia.

“I am pleased with our new part­ner­ship with Ecopetrol and I am con­fi­dent this will bring to­gether our ca­pa­bil­i­ties and ex­per­tise for a suc­cess­ful col­lab­o­ra­tion in the Mex­ico wa­ters,” said Petronas ex­ec­u­tive vi­cepres­i­dent and up­stream chief ex­ec­u­tive of­fi­cer Datuk Anuar Taib.

Last year, Petronas se­cured deep wa­ter Blocks 4 and 5 in a joint-ven­ture part­ner­ship fol­low­ing Mex­ico’s first ever auc­tion of its deep wa­ter ex­plo­ration ar­eas.

Petronas up­stream, ex­plo­ration vice-pres­i­dent of ex­plo­ration, Emeliana Rice-Ox­ley said Mex­ico was largely un­der­ex­plored and held sub­stan­tial ma­te­rial op­por­tu­ni­ties.

“We are very pleased to add Block 6 to our grow­ing ex­plo­ration port­fo­lio in Mex­ico, and be one of the early movers in this basin. This is aligned with our strat­egy to ex­plore for ma­te­rial oil in largely un­der­ex­plored prospec­tive re­gions,” she added.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.