On 31 January 2019, the CNH approved the 30% working interest farm-out by operator CNOOC to PC Carigali in the CNH-R01-L04-A4.CPP/2016 contract, Area 4 block. Â CNOOC remains the operator with 70% working interest and PC Carigali has 30% working interest.Â  CNOOC is planning the drilling of at least one commitment well in the block during 2019.   On 24 April 2018, the CNH approved the exploration plan submitted by operator CNOOC for the CNH-R01-L04-A4.CPP/2016, Area 4 block that includes the drilling of one commitment well and conducting geological and geophysical (G&G) studies during the four year exploration phase.Â  The approved exploration plan includes the drilling of sub-salt new-field wildcat (NFW) Xakpun 1EXP provisionally scheduled for 1st quarter 2019.Â  The proposed total depth (PTD) is 5,500 m with the Wilcox formation being the primary target at approximately 5,000 m.Â Â  The prospect underlies a 2,000 m salt canopy in this area of the basin.Â  The prospective resources for the well have been estimated to be 323 MMboe with an estimated risked reserves to be incorporated of 135 MMboe.Â  The prospect water depth is 1,528 m which puts its location somewhere in the east central to southeastern area of the block.Â  Total well cost was estimated to be USD 160 million.Â  Total investment in the exploration plan was reported by the CNH to be approximately USD 172 million for 79,511 total work units, the well is 74,300 work units.  On 10 March 2017, the CNH signed the official award for an exploration and production license contract with China Offshore Oil Corporation (CNOOC) 100% for the CNH-R01-L04-A4.CPP/2016, Area 4 block the company won through the CNH-R01-L04/2015 Bid Round. The official contract name is CNH-R01-L04-A4.CPP/2016. On 5 December 2016 China Offshore Oil Corporation (CNOOC) was granted a preliminary award as the high bidder for Area 4 - Perdido block through the CNH-R01-L04/2015 Bid Round.Â  The ratification of the preliminary award was approved by the CNH on 7 December 2016.Â  The company offered a total of 15.01% additional royalties and 1.00 as the additional work investment factor which is equivalent to one commitment well and a total minimum investment commitment of USD 33.61 million which also includes the minimum investment commitment of USD 3.61 million.Â  There were no additional bids for the block. The Area 4 - Perdido block covers an area of 1,876.70 sq km in the Deep-Water Gulf of Mexico, Perdido area and the minimum work commitments were set in the bid documents of 3,611 work units.
Mexico (Rio Grande Embayment (Gulf Coast B.)) China