Wintershall Dea and partners make two oil finds off Mexico

Wintershall Dea and its license partners have made significant oil discoveries on the Polok and the Chinwol prospects in Block 29 offshore Mexico.

The discoveries in Mexico’s Block 29 are 88 kilometers from the Mexican coastline of Tabasco and approximately 50 kilometers west-northwest of the world class Zama discovery, where Wintershall Dea holds a 40 per cent stake.

Polok is a play opening discovery within the Early Miocene reservoir of the Salina Basin (part of the Sureste Basin), whereas Chinwol encountered oil in formations of the Pliocene.

Hugo Dijkgraaf, Wintershall Dea Chief Technology Officer and Executive Board member responsible for global exploration, said: “These are breakthrough discoveries, confirming the materiality and quality of Wintershall Dea’s exploration license portfolio in the Sureste Basin. They emphasise Mexico’s importance as one of Wintershall Dea’s key target regions for growth globally.”

Polok and Chinwol are the first announced discoveries from a block, awarded in Mexico’s deep water round 2.4. in 2018.

Juan Manuel Delgado, Managing Director for Wintershall Dea’s Mexican business, pointed out: “This is a great success. We have had a strong belief that discoveries like these could be made here. The Polok and Chinwol discoveries are a strong evidence of the oil potential of the Salina Basin. Opening a new play there, we are confident to further unlocking additional resources in Block 29 and the wider Wintershall Dea license portfolio. We are well positioned and looking forward contributing to the development of Mexico’s oil and gas sector.”

The reservoirs show excellent petrophysical properties. An intensive data collection has been carried out in both wells, including a total of 108 meters of core. The license partnership will work on potential appraisal measures and development options for the Polok and Chinwol discoveries, taking into account current market conditions.

The Block 29 partners are Wintershall Dea (25%), Repsol (operator, 30%), PC Carigali Mexico Operations S.A de C.V., the Mexican subsidiary of PETRONAS (28.33%) and PTTEP Mexico E&P Limited, S. de R.L. de C.V. (16.67%).