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Deutsche Erdoel México

Company Summary

Description

In 2017, DEA had a successful market entry in Mexico, with the award of one licence as partner in Round 2.1, followed by the award of operatorship of the producing oil field Ogarrio in the same year and of three offshore licences as operator in Bid Round 3.1 in 2018. For DEA, these achievements mark meaningful steps in the planned building of a portfolio in this country where the oil and gas sector plays a major role for the domestic economy. Mexico is the 12th largest oil producer in the world and has one of the largest proven reserve bases globally.

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Recent news

  • 12/5/2018 - Sierra Oil & Gas Merges... (subscriber access)

Company Transactions

Date: 6/30/2019
Type: Merger

BUYERS:
  • Deutsche Erdoel AG (DEA AG)
  • Deutsche Erdoel México
    • SELLERS:
  • Sierra Oil & Gas
    • DETAILS:
    NOTES:
    Sierra Oil & Gas signed an agreement to be integrated into Deutsche Erdoel México, a subsidiary of Deutsche Erdoel AG (DEA AG). The transaction will result in a combined portfolio of ten exploration blocks and one onshore production block with expected capital investments of more than 2 billion US dollars over the next five years. DEA AG will participate in the drilling of 9 offshore exploration wells and to the development of Zama, a discovery expected to contribute significant oil production in Mexico, through the agreement. The transaction contains an expected closing date in the first half of 2019.
    REGIONS:
  • Gulf of Mexico - Mexican Waters