Ophir and partners awarded two blocks in Mexican offshore bid round

The London-listed company said both of the licences are located in the Ridges basin, which features a proven hydrocarbon system and material prospectivity.

It said the licence awards remained subject to final approval from the Mexican authorities.

The Block 10 partnership is comprised of operator Repsol, Petronas and Ophir with a 20% interest.

Ophir said the block covers an area of 2,000 square kilometres in water depths between 500m and 2,000m.

The Block 12 partnership is comprised of operator Petronas, PTTEP and Ophir with a 20% interest.

Ophir’s board said the block covers an area of 3,000 square kilometres and is in water depths between 1,500m and 2,000m.

It added that the partners had already identified multiple leads and prospects on the existing data, within what it called a prolific, proven hydrocarbon province.

“The addition of Blocks 10 and 12, to our existing position in Block 5, establishes Ophir as a significant acreage holder in the Mexican Ridges and Sureste Basins,” said Ophir Energy CEO Nick Cooper.

“Since the recent opening of the Mexican offshore to foreign investment, the first two exploration wells to have been drilled have both resulted in significant oil discoveries.

“These two awards add high impact exploration in a world class hydrocarbon system to Ophir's exploration portfolio.”