From the Field
Pemex migrates Miquetla block in Mexico
MEXICO CITY, November 22, 2018 – Mexican NOC Pemex has migrated the AE-0388-M block integral exploration and production contract with local player Operadora de Campos DWF into a licence agreement, local media reported Wednesday.
Under the terms of the new 30-year contract, Operadora de Campos DWF, a subsidiary of Grupo Diavaz, will hold a 51% stake, while Pemex will hold the remaining 49%, local newspaper El Financiero said. The partners will have 180 days to submit an exploration plan for the block to Mexico’s oil and gas regulator, the National Hydrocarbons Commission.
Located in the Chicontepec Basin, the block currently produces around 1,500 barrels of 35-degree-API oil and 116,112 cubic metres (4.1 mcf) of gas per day. The block contains the Miquetla, Coyol and Palo Blanco fields, El Economista newspaper reported.