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Cairn secures new licences in Gulf of Mexico

20 June 2017 07:42

Cairn Energy has secured interests in two licences in the Mexico offshore bid round.

Ther group said the licences (one operated and one non-operated) covered around 1,100 sq km in the Gulf of Mexico in the shallow water Sureste basin. - Block 7: ENI (45% operator), Cairn (30%), Citla (25%)

- Block 9: Cairn (65% operator), Citla (35%)

Cairn Energy chief executive Simon Thomson said: "We are delighted with these awards which we believe provide an exciting opportunity to build a strategic portfolio over time in this highly prolific yet under-explored region.

"As we build on the success of discoveries in Senegal it is important to access new acreage to provide exploration drilling opportunities in the future.

"Cairn and its partners have identified and secured our favoured blocks with multiple stand-alone prospects and numerous follow-on tie-back opportunities based on 3D seismic data.

"We are partnered with ENI, an experienced explorer and operator in Mexico, as well as Citla Energy, a Mexican focused, exploration company and look forward to working with our new partners and the Government of Mexico to deliver the work programme in the coming years."

Story provided by StockMarketWire.com

Related Company: CNE

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