Pemex approves a new farm out in ultra deep waters of the Gulf of Mexico.

Today, Petroleos Mexicanos’ Board of Directors authorized to send to the Secretary of Energy the application for partner migration  for the exploration and extraction of the Nobilis-Maximino block, located in ultra deep waters in the Perdido Fold Belt of the Gulf of Mexico. This request is aligned with the strategy defined by Pemex in its Business Plan 2017-2021 to establish partnerships allowing  to share financial, technological and geological risks to complement its operational capabilities and consolidate as a competitive company.

Source: Pemex

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SENER and CENACE launch call for 2017 Long-Term Auction

Today, the Ministry of Energy (SENER) and the National Energy Control Center (CENACE) announced the call for bids for the 2017 Long-Term Electricity Auction. As in previous auctions, the state’s private and public companies, including CFE , will compete to sell electricity under the best conditions to the Basic Service Provider and, for the first time, to other participating buyers.

The third electric auction will attract investments to power generation, ensuring compliance with clean energy goals at competitive prices.

The tender guidelines for the 2017 Long-Term Auction will be published on May 8th, 2017.

Source: SENER

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Power Generation Plant in Mexico City to be financed by the SHCP

The Secretary of Finance and Public Credit, José Antonio Meade, announced that  development banks will participate in the financing of the “Installation of the Power Generation Plant  Bordo Poniente Stage IV”, one of the most important projects of Mexico City  and the world in that matter.

This project will have the financial support of Banco Nacional de Comercio Exterior (BANCOMEXT), the National Infrastructure Fund (FONADIN) and Nacional Financiera.

Source: SHCP

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The Macro-tunnel and the Brisamar and Cayaco junctions begin operations in Acapulco

  • The infrastructure works link the traditional area of Acapulco with the Diamante one
  • The Macro-tunnel is the longest underground road corridor in the country, with a length of more than 3 kilometers
  • These infrastructure works reduce  low season traveling time by 16 minutes and by more than 1 hour 30 minutes in holiday periods.

Source: SCT

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Successful financial closure of the Shared Network project

Bancomext, Banobras and Nafin signed a loan agreement with Altán Redes, S.A.P.I. de C.V., a vehicle constituted by Altán, a winning consortium of the international public tender convened by the Ministry of Communications and Transport, which was awarded a public-private partnership agreement for the deployment and operation of a Wholesale Telecommunications Network in Mexico.

The three development banks will participate in the financing of the project through credits that, jointly, amount to 17 thousand 750 million pesos with an average term of 13 years.

With the signing of the credit agreement successfully concluded a financial closure process that lasted three months, thereby securing both capital and debt resources necessary for the development of the project.

Source: SHCP

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Closing reception of Service Requests with second round of “Betas” of Sistrangas Open season 2016-2017

735 requests from 18 companies were received.

On April 7th, CENAGAS concluded a further stage of the Open Season Procedure for the Capacity Reserve available at Firm Base in the Integrated Natural Gas Transportation and Storage System (SISTRANGAS).

The Open Season 2016 – 2017 of SISTRANGAS began with the submission of applications from November 28, 2016 until March 10, 2017. During this period, 780 applications were received from 24 companies, which represent a requirement of Transport capacity of 3.4 million gigajoules, from the  2.7 million gigajoules available.

Source: CENAGAS

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CFE ANNOUNCES THE BIDDING RESULTS OF THE COMBINED CYCLE POWER PLANT TOPOLOBAMPO III

The Federal Electricity Commission (CFE) announces the the Second Call for Bids result of the 45 Combined Cycle Power Plant (CC) Topolobampo III project. The awardee will be Iberdrola Generación México, S.A. de C.V., whose proposal guarantees the best technical and economic conditions for the CFE.

The plant will be located in the municipality of Ahome, Sinaloa. Its objective is to satisfy the growing demand for electric power in the West of the country.

The project consists of facilities development, design, construction, testing and commissioning of the plant, as well as the operation and maintenance. The estimated time for execution is 30 months.

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Strategy to Promote Public Private Partnerships

The Secretary of Finance and Public Credit, José Antonio Meade Kuribreña, presented the  Strategy to Promote Public Private Partnerships of the Mexican Government, involving 12 projects with a joint investment of MXN 22 billion. With this strategy, Mexico maintains and strengthens its development path.

He commented that the best way to get the country ahead in times of uncertainty is through investment, regardless of any trade agreement with the United States.

Go to the Strategy to Promote Public Private Partnerships (PPPs) site

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PEMEX AND BHP BILLITON SIGN THE LICENSE AGREEMENT FOR THE DEVELOPMENT OF THE DEEP-WATER TRION BLOCK

  • It is the first association for exploration and production farm out project carried out by Pemex.
  • Pemex continues aligning its operation with international best practices.

Petróleos Mexicanos and the Australian company BHP Billiton signed the license agreement for the development of the deep-water Trion Block during an event hosted by the President of Mexico, Enrique Peña Nieto.

It is the first association for exploration and production farm out project that Pemex carries out in its history, taking advantage of the mechanisms and flexibility granted by the Energy Reform. The Trion Block, discovered by Pemex in 2012, has 3P total reserves for 485 million barrels of crude oil equivalent, so there is certainty about its commercial viability.

BHP Billiton is the largest oil company in the world, with more than 150 years of history and presence in 12 countries. It has successfully developed wells on the US side of the Gulf of Mexico and has one of the lowest accident rates in the industry.

Source: Petróleos Mexicanos /

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PEMEX ALONG WITH CHEVRON AND INPEX CONCLUDES DEEP WATERS CONTRACT IN THE GULF OF MEXICO

 

  • Pemex, in a consortium with Chevron and Inpex, presented the winning proposal for Contract Area 3 of Round 1.4, within the framework of the Energy Reform, on December 5.
  • This consortium won the contract through a competitive, open and under the strictest standards of transparency process.
  • The signing of this agreement is yet another step in the process of opening up the oil sector to the benefit of the country and is an example of the existing confidence in our Mexican oil industry: Pedro Joaquín Coldwell.
  • The consortium formed by Pemex, Chevron and Inpex, contemplates a Total Expected Investment of 2 billion dollars.

Today, on behalf of the Mexican State, the National Hydrocarbons Commission (CNH) signed the first contract obtained by the Productive Company of the State Petróleos Mexicanos (Pemex), through its subsidiary Pemex Exploration and Production, in joint participation with Inpex Corporation and Chevron Energía de México S. de RL de C.V. companies, in an open competition process, derived from the Energy Reform.

For the first time in its history Pemex won, in consortium with Chevron and Inpex, a contract in deep waters. This is Block 3 North of the Fourth Bidding Round 1, called Cinturón Plegado Perdido  (Perdido Fold Belt) in the Gulf of Mexico. This block covers an area of 1,687 square kilometers and is located in a water link between 500 and 1,800 meters.

It should be remembered that the consortium formed by Pemex, Chevron and Inpex, was the winning proposal by offering an additional royalty to the State of 7.0%.

The signing of the contract represents a historic event for being the first block awarded to Pemex in partnership during a competitive process following the Energy Reform approved in 2013.

Source: Secretaría de Energía / CNH

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