Mexico signs contracts of $ 8.2 billion for oil extraction

Mexico’s National Hydrocarbons Commission (CNH) today signed 10 oil exploration and extraction contracts in the country’s shallow waters with companies from different countries, thus formalizing investments for $ 8.2 billion.

The contracts, with a 30-year term plus two possible extensions of five years, provide for the exploration and extraction of hydrocarbons under the shared production modality in the oil provinces of Tampico-Misantla and Cuencas del Sureste, the regulator said in a statement.

The Commission noted that the area covered by these contracts amounts to 5,872 square kilometers and has prospective resources in the order of 2.420 million barrels of crude oil.

The agreements were signed with Germany’s Deutsche Erdoel AG (DEA), Colombia’s Ecopetrol, Capricorn Energy’s British partner Citla Energy, Italian-Russian consortium Lukoil International, Italy’s Eni Mexico and French-Dutch consortium Total México partner with Shell.

The contractors will have a maximum deadline of 180 days to submit to the CNH the exploration plan for each area for approval, said the director of the entity, Juan Carlos Zepeda.

Mexico’s Energy Secretary Pedro Joaquín Coldwell stressed that the contracts, which are part of the process of opening the energy sector initiated with the 2013 constitutional reform, formalize investments of US $ 8.2 billion during its term.

He assured that the investments will be reflected in the creation of more than 82,000 direct and indirect jobs and in a maximum production of 170,000 barrels of crude daily.

In case of success, the State would obtain a benefit of between 77.4 and 83.9%, said the head of the Energy Secretariat.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Trump is against funding the US Postal Service and rejects voting by mail again

The US President, Donald Trump, has shown this Thursday against funding the United States Postal Service for fear that it will be used to...

Exile celebrates support to try Cuba for crimes against humanity

The Assembly of the Cuban Resistance (ARC) celebrated on Wednesday that new international supports have arisen to its desire that the Castro regime be...

Glass “brings together the interest of the premieres in the national billboard

 The arrival of "Glass", the new work of M. Night Shyamalan, brings together the interest of the premieres of this weekend in the country...

Former Nicaraguan President Enrique Bolaños, Ortega’s predecessor, dies

Former Nicaraguan President Enrique Bolaños, who ruled the Central American country between 2002 and 2007 and was the last president before Daniel Ortega's rise...

U.S. judge orders Trump administration to allow entry to immigrant visa holders

By Alex Dobuzinskis and Mica Rosenberg |  A federal judge in Los Angeles has ruled President Donald Trump's administration must allow immigrants with initial clearance...