Shell Focused on Mexican Deep Water Oil Projects

Royal Dutch Shell, one of the world’s largest oil companies, is most interested in new oil and gas projects in the deep waters of the Gulf of Mexico following a major sector opening finalized earlier this year, a top executive said on Tuesday.

In the near term, Shell is eying potential deep water tie-ups with Mexican oil company Pemex in the Trion and Exploratus fields located within the Perdido Fold Belt, which straddles the U.S.-Mexico maritime border in the Gulf.

“I get very enthusiastic about that because I see huge potential there,” Marvin Odum, Shell’s upstream Americas director, told Reuters in an interview.

 
The energy reform signed into law in August promises to stem a decade-long slide in crude output in Mexico, where production hovers around 2.35 million barrels per day (bpd).

Pemex has said it will seek to operate the smaller Exploratus field along with other partners, while it seeks a private partner to operate Trion.

via Reuters

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