The development stages:Exploration drilling/2016-12.The Area-1 project consists of the exploration and extraction of hydrocarbons in the deepwater Gulf of Mexico in one of the four exploration blocks in the Perdido Fold Belt area. The Area-1 block covers an area of 1,678 square kilometers and 100% of 3D seismic coverage has been conducted, with reserves of super light oil being discovered as the main hydrocarbon. It is estimated that the four blocks in the Perdido Fold Belt area could contain around 3.558 billion barrels of oil equivalent (MMboe).