Project

EXPLORATION AND EXTRACTION OF HYDROCARBONS IN DEEP WATERS OF THE GULF OF MEXICO, ROUND 1, TENDER 4, AREA 3 (PERDIDO FOLD BELT).

Sector: Hydrocarbons

This project is no longer a long-term investment opportunity

Last Revision

December 16, 2024
Round:
Round 1, Tender 4, “Deep Waters of the Gulf of Mexico”
 
Short Name of the Project:
0489 Round 1, Tender 4: Area 3, Perdido Fold Belt
Type of Investment:
Archived Project
Subsector:
Upstream
Asset (s):
 Oil Field 1,687 Km2-Light oil 
Contract Currency:
US Dollars
Estimated Investment MXN:

633,384,000

Estimated Investment USD:

37,040,000

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

DESCRIPTION
On July 25, 2022, the Operator submitted to the CNH the notification of irrevocable resignation of the entire contractual area. By Resolution CNH.17.02/202 dated June 15, 2023, the early termination procedure for resignation of the entire contractual area of ​​the Contract for the Exploration and Extraction of Hydrocarbons under the Deepwater License Modality CNH-R01-L04-A3.CPP/20l6 is concluded.

License agreement CNH-R01-L04-A3.CPP/2016 for the exploration of hydrocarbons in deep waters of the Gulf of Mexico, in a 1,678 km2 block for light oil extraction.

Main Features:
- Geological Province: "Salina del Bravo"
- Geologic age: Paleogene and Neogene
- Lithology (s): Medium grain sand and fine grain sand
- Types of Hydrocarbons: Superlight and light oil
- Prospective Resources: P90: 334.4 million barrels of oil equivalent (mmboe), P50: 971.2 mmboe and P10: 2,797.5 mmboe

LEGAL AND FINANCIAL STRUCTURE
Type of Project
  Public / Private
Type of Contract
  License
Term
35 years
Selection Process
International Open Tender
Details
Financing Sources
Private
67 %
MXN
459,110,800
USD
24,816,800
PEMEX
33 %
MXN
226,129,200
USD
12,223,200
Payment Source
Project revenues
Revenues will come from the commercialization of hydrocarbons.

STATUS
Stage
  Execution
RELEVANT DATES
Request for proposals/Announcement December 17, 2015
Proposals Reception December 05, 2016
Ruling December 13, 2016
Contract Signing February 28, 2017
Execution/Construction Starting Date February 28, 2017
Term of the Contract February 28, 2052
Contractor
Chevron Energía de México, Pemex Exploración y Producción e Inpex E&P Mexico PB 03  

GEOLOCATION
State(s)
Deep 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

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. Consideration based on gross income before deducting costs.
2. 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.
0488 Ronda 1, Licitación 4: Área 2, Cinturón Plegado Perdido 0490 Ronda 1, Licitación 4: Área 4, Cinturón Plegado Perdido

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