Sapura Energy JV inks contract with Mexico for Block 30

From left : Tan Sri Shahril Shamsuddin; Manfred Boeckmann, senior vice president

KUALA LUMPUR: Sapura Energy Bhd and its two partners have signed a production sharing contract (PSC) with Mexico’s Comision Nacional De Hidrocarburos (CNH) or the National Hydrocarbons Commission to work on Block 30 in the Gulf of Mexico.

Sapura Energy’s unit Sapura Exploration and Production and its two partners, DEA Deutsche Erdoel Mexico and Premier Oil, had outbid six other bidders for this most contested block during the recently concluded shallow water bid round. 

Block 30, within the Sureste Basin, is a proven and prolific hydrocarbon province in the Gulf of Mexico. It is located in shallow waters of about 70 metres deep, directly to the south west of Premier’s world-class Zama discovery and to the north of the Amoca oil field. 

Sapura E&P entered into the bidding agreement with DEA and Premier based on an equity split of DEA 40%, Sapura Energy 30% and Premier 30% to bid for the block.

Sapura Energy president and group CEO Tan Sri Shahril Shamsuddin said Sapura Exploration and its partners signed the PSC contract on Wednesday in Mexico City.  

Also present were the Secretary of Energy, Pedro Joaquín Coldwell and CNH commissioner president Juan Carlos Zepeda Molina. 

Shahril  said this was a significant milestone for Sapura Energy in reinforcing its position in the industry, establishing its presence in Mexico and growing its E&P portfolio.

“We are proud to be the only Malaysian-owned company to be awarded during this bidding round, together with our partners. 

“This is a significant milestone for Sapura Energy Group in reinforcing our position in the industry, establishing our presence in Mexico and growing our E&P portfolio,” he said. 

Sapura Energy has been operating in Mexico since late 2012 and has worked closely with PEMEX on a number of offshore projects.
 
A number of material leads and prospects have been identified within Block 30 in the tertiary clastic plays, typical of the Sureste Basin and in which Premier made the world-class Zama discovery in July 2017. 

The main prospect exhibits direct hydrocarbon indicators on the existing 3D seismic across the southern edge of Block 30, significantly de-risking a potentially material oil play there. 

These anomalies are similar to those seen at the Zama and Amoca oil fields. The work plan is to acquire 3D seismic data in 2019 before identifying drilling locations in 2020.