Repsol hits two oil discoveries offshore Mexico

Spanish oil and gas company Repsol has made two significant offshore oil discoveries in Mexico’s deepwater with its Polok-1 and Chinwol-1 exploration wells in Block 29 in the Salina Basin.

Repsol said on Monday that both wells confirmed high-quality reservoirs with excellent properties, encountering net oil pay of 200 meters and 150 meters, respectively.

The wells were drilled using the Maersk Valiant drillship.

With these finds, Repsol has posted six discoveries from six wells drilled worldwide this year, uncovering combined gross resources in excess of 650Mboe, in the U.S., Mexico, and Colombia.

According to Repsol, both wells in Mexico were drilled below their cost and time estimations.

The consortium partners are Repsol (30%, operator), PC Carigali Mexico Operations (28.33%), Wintershall DEA (25%), and PTTEP (16.67%).

The partners will evaluate all data collected in the wells to prepare the discoveries’ appraisal plan, to be submitted to Mexico’s hydrocarbons regulator CNH before the end of the year.

The discoveries in Mexico’s Block 29 are just 12 km apart from each other, and 88 kilometres (55 miles) from the Mexican coastline of Tabasco, in water depths of approximately 600 meters (1,969 feet).

The Polok-1 exploration well was drilled to a total depth of 2,620 meters and encountered more than 200 meters of net oil pay from two zones in the Lower Miocene.

The Chinwol-1 exploration well was drilled to a total depth of 1,850 meters and encountered more than 150 meters of net oil pay from three zones in the lower Pliocene.

Wireline Formation testing performed on both wells has shown good flow capacity in multiple stations along the Miocene and Pliocene reservoir units.

Repsol recently received approval from the CNH to drill the company’s third deepwater exploration well offshore Mexico, located in Block 10 offshore Veracruz.

The well will be spudded in the following days using the same Maersk Deep Water Valiant drillship.

Repsol operates a total of six blocks offshore Mexico, three in deep water and three in shallow water areas. The company continues to evaluate all seismic and available data from the rest of the blocks in order to fulfil its work programs approved by CNH.