The Murphy-Ophir-PC Carigali-Sierra consortium is a JV led by Murphy Corporation's Mexican subsidiary Murphy Sur, S. de R.L. de C.V. The consortium was formed in 2016 and was the highest bidder for block 5 of the Salina basin in Round One's fourth phase of the Mexican government's deepwater auction. Under the terms of the agreement, Murphy Sur will be the operator of the block with a 30% working interest, with PC Carigali Mexico Operations, a wholly owned subsidiary of Petronas, holding a 23.34% stake, and Ophir Energy and Sierra Offshore Exploration each holding 23.3%. Covering an area of approximately 2,573km2, with water depths ranging from 700 to 1,100m, block 5 is mainly a light oil resource and has prospective reserves of 621Mb of oil equivalent. The first exploration license is for four years.