Project

EXTRACTION OF HYDROCARBONS IN SHALLOW WATERS OF THE GULF OF MEXICO CORRESPONDING TO ROUND 1, TENDER 2, AREA 4 (SOUTHEAST MARINE BASINS).

Sector: Hydrocarbons


Last Revision

July 01, 2024
 
Short Name of the Project:
0461 Round 1, Tender 2: Area 4, Ichalki, Pokoch
Type of Investment:
Brownfield
Subsector:
Upstream
Asset (s):
 Oil Field 58 Km2-Oil & Gas 
Contract Currency:
US Dollars
Estimated Investment MXN:

154,355,458,790

Estimated Investment USD:

9,026,635,017

Exchange rate (USD/MXN) used by the Ministry of Finance for the economic plan 2024: $ 17.1
Contract Scope:
  Extraction

DESCRIPTION

Joint production contract for the extraction of hydrocarbons in shallow waters of the Gulf of Mexico, in the oil province "Southeast Marine Basins". This area covers 58 km2 and includes 2 fields: Ichalkil and Pokoch, for the extraction of oil and gas.

Main Features:
- Age (s) of play: Cretaceous and Jurassic
- Lithology: Limestone
- Type of Hydrocarbons: Oil and gas

LEGAL AND FINANCIAL STRUCTURE

Type of Project
  Public / Private
Type of Contract
  Shared Production
Term
25 years
Selection Process
International Open Tender
Financing Sources
Private
100 %
MXN
154,355,458,790
USD
9,026,635,017
Payment Source
Project revenues
Revenues will come from the commercialization of hydrocarbons.

STATUS

Stage
  Operation
Substage
  > 5 years of operation
RELEVANT DATES
Request for proposals/Announcement February 27, 2015
Proposals Reception September 30, 2015
Ruling October 09, 2015
Contract Signing January 07, 2016
Execution/Construction Starting Date January 07, 2016
Operation Starting Date December 2017
Term of the Contract January 07, 2041
Contractor
Fieldwood Energy E&P México, Petrobal Upstream Delta 1  
Major Contractor’s Shareholders
Fieldwood Energy de México y Fieldwood Energy LLC, Petrobal Operaciones Upstream y Petrobal

GEOLOCATION

State(s)
Shallow waters of the Gulf of Mexico   

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

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

ADDITIONAL INFORMATION

Responsive image
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.
Responsive image
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.
Responsive image
Source
Secretaría de Medio Ambiente y Recursos Naturales
Description
Federal government entity and sectorial authority responsible for establishing the necessary criteria and instruments to guarantee the protection, preservation, and use of natural resources, by developing an environmental policy that ensures sustainable growth.
Responsive image
Source
Secretaría de Energía
Description
Federal Government entity responsible for controlling, managing and regulating Mexico’s energy resources, and establishing the national energy policy.

REMARKS

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).

Oil and gas 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. Royalties
2. Operating profit, a percentage is shared with the investors

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.

Follow the Project

Leave your e-mail to receive updates on this Project.

 I have read and I accept the Privacy Notice