Pursuant to the implementation of the Energy Reform approved in 2013, specifically regarding the bidding procedures carried out by the National Hydrocarbons Commission ("CNH") for the awarding of exploration and extraction of hydrocarbons contracts, on July 19th, 2016, the Government Body of CNH celebrated an extraordinary meeting by means of which it approved the first tender procedure related to Round Two, identified as CNH-R02-L01/2016, for the awarding of exploration and extraction of hydrocarbons contracts in shallow waters.
According to what was approved by CNH, first tender includes 15 contractual areas in shallow waters located within the coasts of the states of Veracruz, Tabasco and Campeche.
Out of the 15 contractual areas mentioned before, 5 will be tendered for exploration and extraction projects and 10 for activities related to exploration.
Pursuant to information provided by the Energy Ministry ("SENER"), the 15 areas which comprise the referred tender cover a total surface of 8,908 km2 with prospective resources of approximately 1,586 million barrels of crude oil equivalent in which, among the resources, are gas as well as light, heavy and extra heavy oil.
The contractual scheme to be implemented for the above mentioned contractual areas will be production sharing...