Mexico’s oil regulator has approved exploration plans for four deepwater areas operated by Royal Dutch Shell, committing the company to invest at least $791M and potentially as much as $1B.
Following approval earlier this week of Shell’s exploration plans for five other deepwater areas, meaning Shell could invest as much as $2.4B combined in the nine deepwater areas over the next four years and drill at least 13 wells at the projects in the Perdido Fold Basin and the Salina Basin.
The blocks are not expected to begin producing oil and gas until 2026 at the earliest.
Source: Seeking Alpha
Photo licensed under CC 2.0 Author: CarolineHillDKC
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