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EXPLORATION AND EXTRACTION OF HYDROCARBONS IN ONSHORE AREAS CORRESPONDING TO ROUND 2, TENDER 2, AREA 8 (BURGOS), IN THE STATE OF TAMAULIPAS.

Sector: Hydrocarbons


Last Revision

October 01, 2024
Round:
Round 2, Tender 2, “Onshore”
Short Name of the Project:
0175 Round 2, Tender 2: Area 8, Burgos
Type of Investment:
Greenfield
Subsector:
Upstream
Asset (s):
 Oil Field 416 Km2-Humid gas 
Contract Currency:
US Dollars
Estimated Investment MXN:

2,837,843,718

Estimated Investment USD:

165,955,773

Exchange rate (USD/MXN) used by the Ministry of Finance for the economic plan 2024: $ 17.1
Contract Scope:
  Exploration,  Extraction
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DESCRIPTION
License contract for onshore exploration of hydrocarbons, covering 416 km2 in the Burgos Basin oil province for wet gas extraction.

Main Features
- Geological Province: Salina del Istmo
- Age (s) of play: Anahuac oligocene, medium cold oligocene and late olvido jurassic
- Lithology (ies): Sandstone with clay intercalations and oolites grainstone
- Type of Hydrocarbons: Wet gas
- Prospective Resources: P90: 37.8 million barrels of oil equivalent (mmboe), P50: 159 mmboe and P10: 643.3 mmboe

LEGAL AND FINANCIAL STRUCTURE
Type of Project
  Public / Private
Type of Contract
  License
Term
30 years
Selection Process
International Open Tender
Details
Financing Sources
Private
100 %
MXN
2,837,843,718
USD
165,955,773
Payment Source
Project revenues
Revenues will come from the commercialization of hydrocarbons.

STATUS
Stage
  Execution
RELEVANT DATES
Request for proposals/Announcement August 24, 2016
Proposals Reception July 12, 2017
Ruling July 14, 2017
Contract Signing December 08, 2017
Execution/Construction Starting Date December 08, 2017
Term of the Contract December 08, 2047
Contractor
Pantera Exploración y Producción 2.2  
Major Contractor’s Shareholders
Jaguar Exploración y Producción de Hidrocarburos, Sun God Energía de México

GEOLOCATION
State(s)
Tamaulipas   
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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
 Resolution
 Additional information

MULTIMEDIA

REMARKS
The license agreement for the extraction of hydrocarbons stipulates that the contractor will provide and be responsible for all technical and financial resources required for the execution of the operations and will have the right of ownership over the hydrocarbons extracted in the contractual area. The Contractor will pay a royalty, based on audited Hydrocarbons.

The State is a partner of the contractor. The contributions for the State are:
1. The contractual fee for the exploration phase
2. Consideration based on gross income before deducting costs
3. Adjustment mechanism based on production volume and prices

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 10 years and a second extension for an additional period of 5 years.
0222 CFE: Central de Ciclo Combinado Norte III (Juárez) 0176 Ronda 2, Licitación 2: Área 9, Burgos

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