Mexico Rich in reserves
Wintershall Dea is active in Mexico since 2017 and immediately assumed an auspicious role in this promising market.
Mexico has some of the world’s largest proven reserves. After entering the national oil and gas market in 2017, Wintershall Dea established a major position there in just one year. That also includes being operator of the producing Ogarrio oil field. The company also holds shares in promising exploration licences. The planned takeover of Sierra Oil & Gas will secure Wintershall Dea a considerable share of Zama, one of the world’s largest shallow-water discoveries.
The onshore Ogarrio oil field is located in southeast Mexico, 100 kilometres west of Villahermosa. Wintershall Dea also holds ten offshore exploration licences in the Gulf of Mexico: In the Tampico-Misantla Basin, the company is the operator of Blocks 16 and 17 and has a stake in the neighboring Block 2. It operates Block 30 in the Sureste Basin, which is located further southeast. The Sureste Basin is also home to the six blocks from the portfolio of Sierra Oil & Gas, the company Wintershall Dea will take over if the authorities give their approval. Wintershall Dea has a 40 per cent stake in the most important one of them – Block 7, which includes a large part of the Zama discovery.
The Ogarrio field was discovered in 1957. Wintershall Dea holds a 50% stake and is the operator since 2018. Ogarrio is therefore one of the first producing oil fields in Mexico where – following liberalization of the energy sector – an international company is the operator. Wintershall Dea intends to leverage its expertise to maintain or even increase the mature field’s output long term. New wells and technical optimization measures are planned to enable that.