Petroliam Nasional Bhd's (Petronas) operating unit PC Carigali Mexico Operations S.A. de C.V. is reported to be preparing for the initial drilling of Mexico's offshore Bacalar-1EXP oil and gas exploration well under a project which Petronas owns a 60% stake.
According to Petronas' joint venture (JV) partner PT Medco Energi Internasional Tbk's latest monthly exploration report, PC Carigali is expected to "continue drilling preparation" for the oil and gas well.
"Estimated spud on mid-August 2021," said Medco Energi, which is based in Indonesia.
Medco Energi said the gross exploration cost for the Bacalar-1EXP oil and gas exploration well is US$4.42 million (about RM18.55 million).
According to news reports, the exploration well is located within Mexico's Block 12 oil and gas field in the Gulf of Mexico.
It was reported that Petronas owned a 60% stake in Block 12 while Medco Energi and Thailand-based PTT Exploration and Production Public Co Ltd had a 20% stake each.
Source: The Edge Market
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