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Posts on ‘June 14th, 2019’

Shell to invest up to $2.4 billion in Mexican deepwater oil projects

JUNE 14, 2019 / 2:01 AM

MEXICO CITY (Reuters) – Mexico’s oil regulator on Thursday approved exploration plans for four deepwater areas operated by Royal Dutch Shell , after it gave the green light to five others earlier this week, committing the oil major to invest at least $791 million.

The plans stipulate that the Anglo-Dutch company could invest up to $1.06 billion in the four blocks, mostly dedicated to drilling at least six new wells.

One of the blocks is in the Perdido Fold Basin, which straddles the U.S.-Mexico maritime border in the Gulf of Mexico, while the other three are further south in the Salina Basin. read more

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