Repsol says the partners in the Monument oil discovery in the US Gulf of Mexico have taken FID on the project.
Equinor, as operator, drilled the discovery well in 2020 in 1,900 m of water in Walker Ridge Block 316. In February 2023, Beacon Offshore Energy Exploration assumed control after acquiring Equinor’s interest.
According to Navitas, another of the partners, the plan at the time was for a 27-km subsea tieback to the Shenandoah floating production system, which would be upgraded to increase its oil handling capacity by 20,000 bbl/d.
Repsol, in its latest results statement, added that it had raised its stakes in Monument and the Bobcat and Lucille projects in the same area.
Offshore Mexico, preparations have started for the development of the Polok and Chinwol discoveries in Mexican waters. Repsol also participated in the recent Yopaat discovery offshore Mexico. Operator Eni estimates 300 MMboe to 400 MMboe in place.
