Mexico: An Old Frontier in the New World

It’s easy to forget that, back in the early days of modern oil exploration Mexico accounted for 25 percent of the world’s output of petroleum, making it the second most important producer after the United States in the early 1920’s. However, over the next decade Mexico’s oil output declined dramatically due to both political and technological changes. It would take the country over 50 years to reach the same level of output though it would never regain its market share.

During the last 75 years petroleum production in Mexico has been closed to outsiders, exclusively managed by state company Pemex. However, a plunge in output over the last decade lead Mexican politicians to pass an energy reform bill opening their country’s oil
exploration to all in 2015

With the re-opening of this crucial hydrocarbon region there has arisen a demand for high-quality exploration tools, top of everyone’s list being modern seismic data acquisition. But with such a vast area to survey in a relatively short space of time, seismic companies such as Spectrum decided that a collaborative agreement between the world’s leading Multi-Client seismic data providers would provide the best solution to their clients.

Cruicial Seismic
During July 2015 Spectrum entered into a cooperative agreement with PGS and Schlumberger in Mexico to acquire a modern, long-offset 2D data program encompassing all the major hydrocarbon provinces offshore Mexico. This included those areas currently on offer for Mexico’s Round 1 in the Perdido Fold Belt, Mexican Ridges Province, Campeche Deep Sea Basin and will also provide seamless coverage across the Yucatan Platform tying to Spectrum’s extensive “Big Wave” seismic program in the eastern area of the US Gulf of Mexico.

Mexico-SPU-PGS-SLBAt the time of the collaboration announcement Richie Miller, President Spectrum Inc, commented: “Spectrum is confident this cooperation with Schlumberger and PGS will provide outstanding data to industry in a timely manner before Round 1 and future rounds to come.”

Acquisition of the survey offshore Mexico commenced in May 2015 with additional vessels joining in June and July 2015 to help in acquiring the large grid. The survey provides seamless broadband seismic coverage across the Gulf of Mexico, tying key wells in producing hydrocarbon basins and sampling emerging pre-salt plays. The strategically placed survey will help provide greater insight to clients preparing for current and subsequent licensing rounds.

Data Room

With the opening of the deepwater round, the Mexican government has granted oil companies access to a government regulated data room in early January 2016. The data room will help interested oil companies gain insight of the respected areas as well as enlighten them on certain regulation processes.

Upon its completion in Q4 2015, the Mexico survey comprised a total of 61,350 km with both PSTM and PSDM available for delivery to assist in the current deepwater license round.

Mexico-line-1030-PSTM Examples of Offshore Mexico GoM PSTM final products.

Contact us now for details on the data room or to book a one-to-one meeting with a Spectrum representative.