Total wins licenses on three Mexican blocks

6th Dec 2016 13:46

(ShareCast News) - Total announced on Tuesday it has been awarded exploration licenses on three blocks in offshore Mexico, following the country's first competitive deep water bid round.The company will be the operator of Block 2 in the Perdido basin with a 50% interest, while ExxonMobil has the remaining 50%.It said the block covers a surface area of 2,977 square kilometers at water depths ranging from 2,300 to 3,600 meters.In the Salina basin, Total has won a participating interest of 33.3%, alongside Statoil at 33.4% and BP at 33.3%, in Blocks 1 - with an area of 2,381 square kilometres - and 3, which has an area of 3,287 square kilometres."With our successful bids in these promising deep water prospects, Total has seized the opportunity to benefit from Mexico's energy reforms," said Total president of exploration and production Arnaud Breuillac."Our winning bids add high-grade exploration potential to our portfolio."We now look forward to launching exploration works and expanding our cooperation with Mexico together with our partners."