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Project

EXTRACTION OF HYDROCARBONS IN ONSHORE AREAS CORRESPONDING TO ROUND 1, TENDER 3, AREA 25 (SOUTH), IN THE STATE OF CHIAPAS.

Sector: Hydrocarbons


Last Revision

August 29, 2024
Round:
Round 1, Tender 3, “Onshore”
Short Name of the Project:
0486 Round 1, Tender 3: Area 25, Topen
Type of Investment:
Brownfield
Subsector:
Upstream
Asset (s):
 Oil Field 25.30 Km2-Oil & Gas 
Contract Currency:
US Dollars
Estimated Investment MXN:

350,776,787

Estimated Investment USD:

20,513,262

Exchange rate (USD/MXN) used by the Ministry of Finance for the economic plan 2024: $ 17.1
Contract Scope:
  Extraction
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DESCRIPTION
License agreement for onshore hydrocarbons extraction, in an area of 25.3 km2 in the state of Veracruz for oil and gas extraction.

Main Features:
- Type of Hydrocarbon: Oil and gas
- Lithology: Limestones

LEGAL AND FINANCIAL STRUCTURE
Type of Project
  Public / Private
Type of Contract
  License
Term
25 years
Selection Process
International Open Tender
Details
Financing Sources
Private
100 %
MXN
350,776,787
USD
20,513,262
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 May 12, 2015
Proposals Reception December 15, 2015
Ruling December 24, 2015
Contract Signing May 10, 2016
Execution/Construction Starting Date May 10, 2016
Operation Starting Date May 10, 2016
Term of the Contract May 10, 2041
Contractor
Renaissance Oil Corp  
Major Contractor’s Shareholders
R2 Energy LTD

GEOLOCATION
State(s)
Chiapas   
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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
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Source
Secretaría de Energía
Description
Federal Government entity responsible for controlling, managing and regulating Mexico’s energy resources, and establishing the national energy policy.
Social Impact Assessment Explanation
 Social Impact Assessment
 SIA Technical Opinion
 SIA Resolution

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

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.
0485 Ronda 1, Licitación 3: Área 24, Tecolutla 0487 Ronda 1, Licitación 4: Área 1, Cinturón Plegado Perdido

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