Project

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

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:
0492 Round 1, Tender 4: Area 3, Saline Basin
Type of Investment:
Archived Project
Subsector:
Upstream
Asset (s):
 Oil Field 3,287 Km2-Humid gas 
Contract Currency:
US Dollars
Estimated Investment MXN:

4,467,741,641

Estimated Investment USD:

261,271,441

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 June 3, 2021, the Contractor submitted to the CNH the notification of irrevocable resignation of the entire contractual area. By Resolution CNH.01.03/2023 dated March 30, 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.CS/2016 is concluded.

License agreement for the exploration of hydrocarbons in deep waters of the Gulf of Mexico, in a 3,287 km2 block for wet gas extraction.

Main Features:
- Geological province: “Salina del Istmo”
- Age (s) of play: Neogene, Paleogene and Jurassic Superior.
- Lithology (s): Middle grain sand, fine grain sand and Oolitic Packstone / Grainstone.
- Types of Hydrocarbons: light oil and wet gas
- Lithology (s): Fractured limestone, Middle grain sand and Oolitic Packstone / Grainstone.
- Prospective Resources: P90: 373.1 million barrels of oil equivalent (mmboe), P50: 1,187.3 mmboe and P10: 3,686.9 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
100 %
MXN
4,833,521,658
USD
261,271,441
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 December 05, 2016
Ruling December 07, 2016
Contract Signing March 10, 2017
Execution/Construction Starting Date March 10, 2017
Term of the Contract March 10, 2052
Contractor
Equinor Upstream México, BP Exploration Mexico y Total E&P México  

GEOLOCATION
State(s)
Deep waters of the Gulf of Mexico   
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Go to GIS for this project

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
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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
 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. 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.
0491 Ronda 1, Licitación 4: Área 1, Cuenca Salina 0493 Ronda 1, Licitación 4: Área 4, Cuenca Salina

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