In Mexico’s shallow water bid round 3.1, Deutsche Erdoel Mexico was awarded two blocks with its partners Pemex Exploration and Production and Cepsa and one block jointly with its partners Sapura E&P and Premier Oil. In all three blocks, the affiliate of the German E&P company DEA, Deutsche Erdoel Mexico will be the operator.
"We are very pleased with the awards in this highly competitive bid round 3.1. The blocks we won are an excellent fit to our plans in Mexico. The country plays an important role in our global growth strategy. We recently entered the Mexican market and are one of the first international operator of oil production in the country. Now, we expand our exploration portfolio with promising opportunities," said Maria Moraeus Hanssen, CEO of DEA Deutsche Erdoel AG.
Deutsche Erdoel Mexico won Block 16 and 17 (both with partners Pemex Exploration and Production and Cepsa) in the Tampico-Misantla Basin and Block 30 (with partners Sapura E&P and Premier Oil) in the Sureste Basin.
"The bid round results are a great success, giving us access to highly prolific basins," said Juan Manuel Delgado, President of Deutsche Erdoel Mexico. "Both, the Tampico-Misantla and the Sureste Basin offer significant undiscovered resource potential. Block 30 is in vicinity of recent large oil discoveries. Block 16 and 17 are located in the immediate vicinity of Block 2, where we already have exploration activities as partner with Pemex. The blocks are a strong complement to our portfolio. We now look forward to start the exploration work together with our partners," Delgado added.
Manager External Communications
T +49 40 6375 2759
M +49 162 273 2559
Deutsche Erdoel Mexico is a subsidiary of the international E&P Company DEA Deutsche Erdoel AG, that is based in Hamburg, Germany. In March 2018, Deutsche Erdoel Mexico took over operatorship of the onshore oil field Ogarrio in the state Tabasco. The 50 percent license share and operatorship of Ogarrio were awarded during the farm-outs in October 2017. Earlier that year, the company won the Block 2 in Licensing Round 2.1 in consortium with Pemex. Deutsche Erdoel Mexico has offices in Mexico City and in Villahermosa.
DEA 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 119 years of experience working along the entire upstream value chain as operator or project partner. With a staff force of 1,150 employees, DEA Deutsche Erdoel AG has shares in production facilities and concessions in, among others, Germany, Norway, Denmark, Egypt, Algeria and Mexico.
This communication may include projections and other “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, no reliance should be placed on any of these forward-looking statements.