Pemex to tender seven onshore areas

MEXICO CITY, April 27, 2018 – Pemex will farm out seven onshore clusters, Mexico’s National Hydrocarbons Commission (CNH) announced in a webcast on Thursday.

The NOC has experienced production declines in the Artesa, Bacal-Nelash, Bedel-Gasifero, Cinco Presidentes, Giraldas-Sunuapa, Juspi-Teotleco and Lacamango areas of the southern states of Veracruz, Tabasco and Chiapas. The tender aims to bring financial resources and technical support to the clusters through joint ventures, and will be held on October 31.

Pemex will hold a 45% stake in the seven areas, which comprise more than 20 sites. The CNH aims to bring in USD 870 million in investment with the tender.

By 2023, total crude production of the clusters is expected to rise to 58,000 bopd and gas production will hit 8.78 mcm (310 mcf) per day, the CNH said. Current total production at the sites sits at 33,000 bopd and 5.38 mcm (190 mcf) of gas per day.

“These are allocations that we already have in production, which already have a certain level of proven reserves; that’s exactly why we are choosing to move them to partners to invest in them and boost production,” Gabriel Macias, a member of Pemex’s legal team, said.

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