MEXICO CITY – Repsol has received approval to withdraw from two oil and gas exploration areas in the Gulf of Mexico, according to a recent Reuters report, which cited the Mexican oil regulatory body CNH as its source.
An unnamed regulatory official said that Repsol had not found any prospective resources in the blocks.
The two areas are located in the Burgos basin of the Gulf, off the coast of Tamaulipas. Repsol won the two blocks in a tender process in 2018, after Mexico’s energy reform allowed companies other than the state-owned Pemex to hold hydrocarbon exploration contracts.
The move comes just weeks after the company vacated three other spots offshore Mexico.
Following the exit from the two exploration blocks, Repsol will have only one exploration and extraction project in Mexico. Located in the deepwater areas in the Salina basin, off Veracruz and Tabasco, the project was secured by Repsol as part of a consortium with other partner firms.
