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CNH delays Pemex's 2nd farmout deadline

Written by  Friday, 14 April 2017 09:24

Mexico is delaying the bid process for companies to partner with Petróleos Mexicanos (Pemex) for its shallow water areas Ayín-Batsil, by three months.

Image from Pemex.

The country’s regulator, National Hydrocarbons Commission (CNH), is giving companies an additional three months to partner with Pemex in its second-ever farmout deal. The deadline for bidding is now set for 4 October, instead of 19 June.

The Ayín and Batsil fields are off Campeche, and have an estimated proven, probable, and possible 3P resources of about 281 MMboe; and 46 MMboe in proven reserves,

The company’s first-ever farmout deal at the deepwater Trión field wad made official early last month with partner BHP Billiton. BHP Billiton was selected to be Pemex’s partner during Mexico’s first-ever deepwater bid round (Round 1.4) in December 2016. The duo is expected to drill one appraisal well, one exploration well and acquire additional seismic data.

In mid-March, CNH finalized seven deepwater contracts in the Gulf of Mexico, as part of Round 1.4, for the Perdido Fold Belt and Salina basin.

Pemex said last year that its 2016-2021 business plan included an aggressive farmout program, with the expectation of increasing production by 15%.

Read more:

Mexico finalizes 7 deepwater pacts

Pemex, BHP Billiton make Trión pact official

Pemex seeks shallow water farmout

Pemex plans aggressive farmout program

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