• Mexico-PEMEX to Conduct Third Round of Upstream Contracts (Chicontepec)
  • October 31, 2012 | Authors: Pablo C. Ferrante; Gabriel J. Salinas; Jose L. Valera
  • Law Firms: Mayer Brown LLP - New York Office ; Mayer Brown LLP - Houston Office
  • The board of directors of Pemex Exploración y Producción (PEP) recently approved the third bidding round of "Integrated E&P Contracts" (IECs) for six blocks in the Chicontepec region.

    PEP has made available the preliminary technical and legal information regarding the offered blocks at www.pemex.com/contratos. The contracts are preliminarily scheduled to be awarded in July 2013, with the tender process beginning in December of this year.

    According to PEP, the Chicontepec field represents almost 40 percent of the total reserves of Mexico and the proposed blocks have 2 billion barrels of oil equivalent in 3P reserves, which represent 15 percent of the total reserves in Chicontepec.

    Below is a summary published by PEP of the offered blocks:

     

    Block

    Area

    (sq.km)

    3P Reserves

    (mmboe)

    Prospective resources

    (mmboe)

    Type of hydrocarbon

    °API

    Amatitlán

    128

    403

    74

    44

    Soledad

    125

    134

    128

    32- 37

    Humapa

    128

    341

    157

    27

    Miquetla

    112

    248

    86

    35

    Miahuapan

    128

    431

    101

    33

    Pitepec

    128

    648

    74

    32 - 38