In reference to the tenders called by the National Hydrocarbons Commission ("CNH") regarding the awarding of Exploration and Extraction of Hydrocarbons Contracts ("E&E Contracts"). On July 19, 2017, the Energy Ministry and CNH announced the Fourth Tender of Round Two (CNH-R02-L04/2017), which compels 30 Contractual areas located within the regions known as: (i) Plegado Perdido, and (ii) Cordilleras Mexicanas, (iii) Cuenca de Salina, and (iv) Plataforma de Yucatán.
Those areas have the following characteristics:
The prospective resources of these 30 areas is equal to 64% of the marine resources included in the five-year term exploration and extraction biding plan.
License Contract will be the model use for the Contractual Areas where companies, after extracting the hydrocarbons and paying taxes and royalties, will be entitled to sell them.
One exploration and/or extraction of hydrocarbons project in deep or ultra-deep waters with a depth greater to 500 meters, during the last 5 years. Investments in exploration and/or extraction projects that, jointly should be of al least USD 2.0 billion. Experience in matters related to industrial safety and environmental protection, during the last 5 years. 3. Financial capacity:
Countable capital equal or greater than USD $2.0 billion, or Assets greater or equal than USD 10.0 Billion, plus...