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Chevron to drill a wildcat in Mexico's Cuenca Salina Basin in 2021



By Daniel Rodriguez / Platts

Petroleumworld 05 14 2019

Chevron aims to drill its first deepwater well in Mexico in 2021, based on an exploration plan approved by the country's National Hydrocarbon Commission.

The US company has nine exploration targets in its Cuenca Salina Basin 023 block, awarded in Mexico's auction Round 2.4 in 2018, the commission, known as CNH, said Thursday in a webcast session.

"This ultra-deepwater region seems highly prospective. However, it has never been tested," said Faustino Monroy, CNH's head of exploration.

Mexico's state-owned oil company Pemex and Japan's Inpex are Chevron's partners in the block.

This is CNH's first approval of a deepwater exploration plan from the 19 blocks awarded at deepwater Round 2.4. Among winners of this round include Shell, Petronas, ENI and Qatar Petroleum.

CNH said if the 19 blocks awarded in Round 2.4 are successfully developed, their peak production will be 1.5 million b/d by 2033.

Based on the limited 3D seismic currently analyzed, Chevron's best prospect is the ultra-deepwater Colel Cab target, which has three potential pay zones in the Oligocene, and Upper Cretaceous and Jurassic Layers, CNH said.

Chevron will complete seismic data acquisition across its 2,700-sq.-km block by the end of the year. Once this data is processed, the company will be able to rank its portfolio of exploration targets better.

Colel Cab alone has 289 million boe of prospective resources at the Upper Cretacious horizon, which is at a depth of 5,000 meters.

Chevron will drill Colel Cab's Upper Jurassic horizon at 6,100 meters deep to test this horizon. Available data on its potential is limited due to the presence of salt formations, CNH said.



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Story by Daniel Rodriguez; Edited by Richard Rubin n from Platts / SPGlobal.

- 05 102019

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