CNH approves terms for Round 3.2, farm-outs
Mexico Pemex CNH
For the 37 onshore blocks to be offered in September’s Round 3.2 auction, the maximum additional royalty will be 25-40%, with the minimum set at 2.5-5%.
Six of the farm-outs scheduled for bidding at the end of October call for an additional royalty payment of 15% and the seventh requires one of 6%.
Ties will be broken by whichever bidder offers the largest cash payment. Bids on the farm-outs will also require offers of initial payments to Pemex for its investments in each area.
Recent Posts
Petronas makes discovery off Suriname
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japan’s JERA slates $32 billion for LNG, renewables, new fuels
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron planning UK North Sea exit
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
Seatrium wins yet more FPSO work in Guyana
Seatrium has been awarded a contract by SBM Offshore for the topsides fabrication and integration of an additional FPSO vessel… Read More
Diamond Offshore seals $350-million Gulf of Mexico deal
Diamond Offshore has secured a USD 350-million extension for an ultra-deepwater drillship deployed for Anadarko Petroleum in the US Gulf… Read More
ExxonMobil makes deepwater discovery off Angola
ExxonMobil has made a discovery in the Angolan deepwater, the country's energy regulator announced on Monday Read More