China Offshore Oil Corporation's (CNOOC), on 22 November 2018, granted PETRONAS subsidiary, PC Carigali Mexico Operations SA de CV, 30% WI in the deepwater CNH-R01-L04-A4.CPP/2016 contract, according to the Comision Nacional de Hidrocarburos (CNH). The farm-out news emerged in a regulatory meeting on 31 January 2019, in which the CNH approved the transfer of WI to CNOOC's new partner. CNOOC will retain 70% and its role as operator. No other details about the transaction were available as this report went to press. CNOOC's 1,876 sq km block is in the Salina del Bravo Basin. Water depths in the contract area span 500-2,000m. The CNH, on behalf of the Mexican state, signed an agreement with CNOOC for the Round 1.4 block in 2017. CNOOC is understood to have a prospect identified for drilling, The well, the Xakpun 1 NFW, would target the Eocene sequence (Wilcox trend). With a PTD of around 5,500m, the well will transverse a 2,000m salt layer. Xakpun, may drill this year. The well's location is sited in water depth of 1,580m.
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