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Hamburg, 21.06.2017

Deutsche Erdoel AG wins its first exploration licence in Mexico

On 19 June 2017, Deutsche Erdoel AG was awarded shallow water Block 2 in consortium with Pemex by the National Hydrocarbons Commission (CNH) as part of the competitive bid round 2.1. Deutsche Erdoel holds a 30% share, with Pemex holding the remaining 70% as operator.

Block 2 in the South-Western Gulf of Mexico

Block 2 comprises 549 sq. km and is located in the South-Western Gulf of Mexico in water depth ranging from 40 to 260 m. The initial four-year exploration phase includes drilling of one commitment well.

“We are pleased with the block award in bid round 2.1. Entering Mexico is part of our strategy aiming at expanding our footprint and getting access to highly prolific basins,” said Thomas Rappuhn, CEO of Deutsche Erdoel AG. Deutsche Erdoel is interested in building a long-term business in the region after the energy reform in Mexico.

Juan Manuel Delgado, President of Deutsche Erdoel Mexico said: “The award is an important first step to build a portfolio in the country. The Tampico-Misantla is a prolific basin and offers significant undiscovered resource potential. With Block 2, Deutsche Erdoel obtains access to material prospective resources. We now look forward to start the exploration work together with our partner and operator Pemex.”

 

Further information

Olaf Mager                                                               
Head of External Communications                             
T +49 40 6375 2877                                                  
M +49 162 273 2877                                                 

Frank Meyer
Manager External Communications
T +49 40 6375 2759
M +49 162 273 2759

 

Background information

Deutsche Erdoel AG is an international operator in the field of exploration and production of crude oil and natural gas based in Hamburg. Its focus is on safe, sustainable and environmentally conscious exploitation of oil and gas. Deutsche Erdoel AG has 118 years of experience working along the entire upstream value chain as operator or project partner. With a staff force of around 1,150 employees, Deutsche Erdoel AG has shares in production facilities and concessions in, among others, Germany, Norway, Denmark, Egypt, Algeria and now in Mexico.

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