Tag Archives: CNH

Bidding deadline for offshore shallow-water oil fields pushed back to October

The National Hydrocarbons Commission (CNH) last week postponed the bidding deadline for the Ayin-Batsil oil fields from June 19 to October 4, 2017.

The CNH said more time was needed for potential bidders to pre-qualify. To date, three companies have shown interest, and one has been prequalified.

Ayin-Batsil locationThe tender for a 30-year “farm-out” production sharing agreement with Pemex was announced last March, and follows on the successful farm-out of the Trion deep water field last December.  Pemex will retain a 50% interest, while the partner will re responsible for developing and operating the fields. They are expected to require US$ 4.2 billion to develop.

The production sharing agreements – made possible by the 2014 energy reforms — are a key part of Pemex’s plan to stabilize production levels, while reducing capex.

The Ayin and Batsil fields are in shallow waters in the Gulf of Campeche, near some of Pemex’s largest producing fields.  They hold an estimated 281 mm barrels of oil equivalent (46 mmboe proved).

Sources:  Excelsior, Milenio