The board of directors of Pemex Exploración y Producción (PEP) recently approved the third bidding round of "Integrated E&P Contracts" (IECs) for six blocks in the Chicontepec region.
PEP has made available the preliminary technical and legal information regarding the offered blocks at www.pemex.com/contratos. The contracts are preliminarily scheduled to be awarded in July 2013, with the tender process beginning in December of this year.
According to PEP, the Chicontepec field represents almost 40 percent of the total reserves of Mexico and the proposed blocks have 2 billion barrels of oil equivalent in 3P reserves, which represent 15 percent of the total reserves in Chicontepec.
Below is a summary published by PEP of the offered blocks:
Click here to view table.
For an analysis of the Pemex bidding rounds and IECs, see Mayer Brown's article "Upstream Opportunities in Mexico: Bidding Rounds and New Contracts." For inquiries related to this Legal Update, please contact , or .