In 2017 we expanded our position along the Atlantic Margin by securing acreage in Mexico.
Cairn was successful in securing both of our targeted, two new licences in the highly competitive Mexico offshore bid round in 2017. The company was awarded one operated and one non-operated licence located in the Gulf of Mexico in the shallow water Sureste basin in water depths of 100-500 metres and ~50km offshore.
These licence awards provide an exciting opportunity to build a portfolio over time in this highly prolific yet under-explored region. Cairn and its partners identified and secured favoured blocks with multiple stand-alone prospects and numerous follow-on tie-back opportunities based on 3D seismic data. We look forward to working with our local and international partners as we plan exploration drilling with four wells in 2019-2020 targeting more than 1 billion boe gross unrisked potential resource.