CNH authorises first private-sector oil plan

MEXICO CITY, May 17, 2018 – Mexico’s National Hydrocarbons Commission (CNH) has authorised a private-sector oilfield development plan, a first for the country since 2014’s energy reform, local media reported on Wednesday.

Hokchi Energy, the Mexican subsidiary of Argentina’s Pan American Energy, received authorisation for its plan to explore and develop an oilfield in the Gulf of Mexico’s Hokchi field. Under the USD 2.5-billion plan, two platforms will be installed with the aim of producing around 148 million barrels of oil and 1.29 tcm (45.4 tcf) of gas over the lifetime of the contract.

The Hokchi field is located in Contract Area 2, a block awarded to Pan American Energy and E&P Hidrocarburos y Servicios by the CNH in July 2015.

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