Murphy anticipates deepwater Mexico block award

Offshore staff

EL DORADO, Arkansas -- Murphy Oil says a joint venture led by its Mexican subsidiary, Murphy Sur, was the high bidder and expects to be awarded block 5 during Mexico's fourth phase, round one deepwater auction.

Under the terms of the JV, Murphy will operate with a 30% interest in partnership with Petronas subsidiary PC Carigali Mexico Operations, Ophir Energy, and Sierra Offshore Exploration.        

Block 5 is in the deepwater Salinas basin covering around 2,600 sq km (1,004 sq mi) and in water depths of 700-1,100 m (2,300-3,600 ft). The initial exploration period for the license is four years, with a work program commitment that includes one well.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...