Projects
We have a strong focus in the gulf of Mexico and the Caribbean sea.
Crude and Oil Corporation is involved in projects at several of stages of maturity, and we are continually seeking to discover new reserves. Our exploration projects are undertaken on the basis of Production Royalty Rights between Crude and Oil Corporation and multinational oil and gas production companies or governments.
Gulf of Mexico
The target area of 1,800 square km is located in deep water in Mexican territorial waters, 120km outside the limits of the Cantarell Oil Field. We have conducted extensive geological testing, including satellite and sonar mapping, geophysical and geological testing, and seismic and submarine surveys.
Crude and Oil Corporation’s specialists have analysed the data and identified the location of the drill sites. We are drilling submarine core samples and conducting focused testing on 6 sites within the territory, with an understanding that 7-10 wells will be sited on the territory.
Caribbean Sea
The target area includes over 6,200 square kilometers of shallow offshore territory in the Caribbean Sea. The first exploration phase of the Production Royalty Rights (PRR) will be complete by the end of 2023, with two optional one-year extension periods.
Crude and Oil Corporation has inherited two dimensional seismic data and data reduction from previous exploration conducted by three leading exploration companies over the past 10 years. The data which covers over 8,600 square km from which Crude and Oil Corporation has identified 5 major oil and gas prospects. Crude and Oil Corporation plans to conduct further seismic surveys with the aim of developing 18 highly economically feasible drilling prospects.
