Page 7 - LatAmOil Week 43 2022

LatAmOil MEXICO LatAmOil

Wintershall acquires 37% stake in

Hokchi block from PAE subsidiary

WINTERSHALL Dea, Germany’s largest oil further expanding our partnership with Hok-
and gas producer, has struck an agreement chi Energy and its shareholder Pan American
with Hokchi Energy, the Mexican subsidiary of Energy,” he commented.
Argentina’s Pan American Energy (PAE), for the He was referring to Wintershall’s existing
acquisition of a 37% share in the Hokchi block. partnership with Hokchi Energy for Block 2,
The agreement, which serves to expand Win- another shallow-water site in the southern Gulf
tershall’s footprint in Mexico, includes a condi- of Mexico.
tional option to increase the company’s share in The conclusion of this deal will see Win-
the shallow-water block to 40% at a later stage. tershall cement its place as one of the leading
Under the terms of the deal, the transac- independent gas and oil companies in Mexico.
tion will only be completed upon the receipt of It will make the German firm the second-largest
government approvals from Mexico’s National stakeholder in the Hokchi block, second only to
Hydrocarbons Agency (CNH) and antitrust Hokchi Energy.
agency (COFECE). As such, the acquisition is Since beginning operations in Mexico in
expected to be completed near the end of the 2017, Wintershall has focused on producing
first quarter of 2023. hydrocarbons, becoming one of the country’s
The acquisition will give Wintershall access leading upstream companies. Its major assets in
to shallow-water acreage that is currently yield- Mexico include a 50% share in the onshore Oga-
ing around 26,000 barrels of oil equivalent per rrio oilfield and a minority stake in the Zama
day (boepd), though there are plans to boost offshore oilfield.
output levels to 37,000 boepd. The block has The company also holds stakes in 10 offshore
been in production since May 2020 and is being exploration blocks in the Gulf of Mexico, acting
developed via tie-ins to two nearby platforms, as the operator in three of them. ™
Central and Satellite. These platforms transfer
the volumes received from Hokchi to a 24-km
subsea pipeline, which then pumps them to an
onshore processing facility for separation into
crude oil and associated gas that can be sold to
Mexico’s national oil company (NOC) Pemex.
Thilo Wieland, a Wintershall management
board member responsible for the company’s
Latin American business, explained that Mex-
ico was seen as a growth market, as indicated by
the acquisition. “With Hokchi, we are gaining
a producing asset that fully meets our strategic
requirements, also in terms of efficiency and
emissions. We are excited about continuing and Hokchi is currently yielding around 26,000 boepd (Image: Wintershall Dea)

EL SALVADOR
Invenergy announces commercial launch

of LNG-to-power project in El Salvador

INVENERGY (US) said in a statement on Octo- The Energía del Pacífico (EDP) joint venture
ber 20 that it had succeeded in working with its is now using gas imported via the BW Tatiana, a
joint venture partners to launch commercial floating storage and regasification unit (FSRU)
operations on an LNG-to-power project focused anchored offshore, to generate electricity at a
on the port city of Acajutla in El Salvador. thermal power plant (TPP) in Acajutla.

Week 43 26•October•2022 www. NEWSBASE .com P7