The regulator’s governing body, the National Hydrocarbons Commission (CNH), approved starting the resignation processes in a public session, but did not detail Repsol’s reasons. A regulator source said the company had not found any prospective resources in the blocks.
Last November, the regulator had already approved the company to begin the process of giving up three other blocks. A) Yes, Repsol would only keep one of the six assets of those that were made in the oil rounds of the past six-year term. The block it will hold is in deep water.
The oil company asked to start these processes to focus on this last asset that has been commercially more attractive, according to the regulator and company sources have explained to Expansion.
Light crude and wet gas were expected to be found in the blocks, according to documents from the 2018 tender for areas in the Burgos Basinoff the coast of Tamaulipas, a border state with the United States.
Wells had not yet been drilled on any of the blocks, according to CNH data.
With information from Reuters