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EXPLORATION AND EXTRACTION OF HYDROCARBONS IN SHALLOW WATERS OF THE GULF OF MEXICO CORRESPONDING TO ROUND 2, TENDER 1, AREA 9 (SOUTHERN BASINS).

Sector: Hydrocarbons


Last Revision

March 14, 2025
Round:
Round 2, Tender 1, “Shallow Waters”
 
Short Name of the Project:
0161 Round 2, Tender 1: Area 9, Southeastern Basins
Type of Investment:
Greenfield
Subsector:
Upstream
Asset (s):
 Oil Field 562 Km2-Light oil 
Contract Currency:
US Dollars
Estimated Investment MXN:

4,351,581,618

Estimated Investment USD:

235,220,628

Exchange rate (USD/MXN) used by the Ministry of Finance for the economic plan 2025: $ 18.5
Contract Scope:
  Exploration,  Extraction
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DESCRIPTION
Joint production contract CNH-R02-L01-A9.CS/2017 for the exploration of hydrocarbons in shallow waters, covering 562 km2 in the Southeast Basins for the extraction of light oil.
Main Features:
- Geological Province: Salina del Istmo
- 100% 3D seismic coverage.
- Age (s) of play: Pliocene-pleistocene, medium pliocene, early pliocene.
- Lithology (ies): Coarse grain sand and medium grain sand.
- Type of Hydrocarbons: Light oil and wet gas.
- Prospective Resources: P90: 56.2 million barrels of oil equivalent (mmboe), P50 168.8 mmboe and P10: 570.8 mmboe.

LEGAL AND FINANCIAL STRUCTURE
Type of Project
  Public / Private
Type of Contract
  Shared Production
Term
30 years
Selection Process
International Open Tender
Details
Financing Sources
Private
100 %
MXN
4,351,581,618
USD
235,220,628
Payment Source
Project revenues
Revenues will come from the commercialization of hydrocarbons.

STATUS
Stage
  Execution
RELEVANT DATES
Request for proposals/Announcement July 20, 2016
Proposals Reception June 19, 2017
Ruling June 21, 2017
Contract Signing September 25, 2017
Execution/Construction Starting Date September 25, 2017
Term of the Contract September 25, 2047
Contractor
Eni México y Repsol Exploración México  
Major Contractor’s Shareholders
Eni International, Eni Oil Holdings, Repsol Exploración, Repsol LNG Holding

GEOLOCATION
State(s)
Shallow waters of the Gulf of Mexico   
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Entity in charge of controlling the possession of communal land, as well as providing documentary legal security derived from the application of the Agrarian Law, and is the operator of the Geospatial Information System (SIG).

SPONSOR
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Entity
Comisión Nacional de Hidrocarburos
Department
Dirección General de Contratación para la Exploración y Extracción
E-mail
contacto@cnh.gob.mx
WebsiteInstitutional Arrangement

ADDITIONAL INFORMATION
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Source
National Hydrocarbons Information Center
Description
It is in charge of promoting and sharing the knowledge of the subsoil to foment the activities of exploration and extraction of hydrocarbons.
Hydrocarbons map
 Investments
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Source
Comisión Nacional de Hidrocarburos
Description
Regulatory entity with technical autonomy, responsible for the organization of tenders, and execution of contracts related to the exploration and extraction of hydrocarbons.
Project Website
 Data sheet
 Results
 Signed contract
 1st Amending Agreement
 2nd Amending Agreement
 3rd Amending Agreement
 Additional information

MULTIMEDIA

REMARKS
Oil and gas exploration and extraction contracts may or may not generate revenue if the operator finds commercially extractable resources in the assigned area. In case the operator finds and extracts hydrocarbons, he must pay the State the percentage of production that he offered in the tender, once costs are recovered.

The State is partner with the contractor. The contributions to the State are:
1. The Contractual Fee for the Exploration Phase
2. Royalties
3. Operating profit, a percentage is shared with the investors

It is important to clarify that all the exploration risk is assumed by the operator, that is, if the assigned operator does not find economically viable hydrocarbons to be extracted, the Mexican State has no payment obligation.

There are two possible extensions in the contract term subject to the area being in regular commercial production. The first extension of 5 years and a second extension for an additional 5 years.

The estimated investment amount refers to approved investments, which are those that operators estimate they will carry out in the various plans, as applicable (exploration, evaluation, and/or development).
0160 Ronda 2, Licitación 1: Área 8, Cuencas del Sureste 0162 Ronda 2, Licitación 1: Área 10, Cuencas del Sureste

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