Fieldwood Energy E&P Mexico has signed a production-sharing contract for Area 4 offshore Mexico, which was awarded in the Round 1 Call 2 bid process. 

Area 4 comprises the proven but undeveloped Ichalkil and Pokoch fields and is located in the Bay of Campeche at water depths of 100 to 150 ft (30 to 45 m). 

Fieldwood will serve as operator of Area 4 and has partnered with PetroBal, S.A.P.I. de C.V., a subsidiary of Grupo Bal, a Mexican conglomerate.   

The signing of the Area 4 contract represents the company’s inaugural investment in Mexico. The company will commence an approximate two year appraisal period beginning early this year during which time it intends to conduct a limited drilling program and technical evaluation process.