IN NOVEMBER THE MEXICAN HYDROCARBONS COMMISSION (CNH) WILL SUBMIT THE PRELIMINARY HEADS OF TERMS FOR THE FIRST OIL ROUND IN WHICH THE PRIVATE SECTOR WILL BE INVITED TO PARTICIPATE

In this first round, 169 blocks are due to be auctioned, of which 109 are exploration projects and 60 are extraction projects. The blocks cover a surface area of 28,500 Km2.

Of that total, 91% are exploration areas and 9% are extraction fields. 2P reserves and prospective fields up for auction represent 3.782 and 14.606 billion barrels of crude equivalent (MMbpce), respectively.

There is an expected annual investment in this round of approximately $8.525 billion between 2015 and 2018.

The aim of the first oil round is to increase oil production in the short term, bring in new reserves and increase the country's prospective oil resources. The blocks may be modified on the basis of sector consultation. The CNH hopes to attract high participation among the private sector and intends to take into account its interests to do so.

The tender process will begin in November of this year and will continue until March 2015; concurrently, the Petróleos Mexicanos (Pemex) alliances will be carried out in the oil fields that it has been allocated

TIMELINE

  • November: shallow water fields will be auctioned (Bolontikú, Sinan and Ek)
  • December: areas of extra heavy crude will be auctioned (Ayatsil, Tekel, Utsi)
  • January: Chicontepec and areas with non-conventional resources will be auctioned (shale gas, shale oil)
  • February: Inland areas will be auctioned (Rodador, Ogarrio and Cárdenas Mora) as well as deep sea areas (Gulf of Mexico)
  • March: Deep sea areas in the Gulf of Mexico will be auctioned

SUMMARY OF THE FIRST ROUND

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