Page 7 - LatAmOil Week 43 2022
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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
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