Off the wire
• Two Turkish soldiers killed in PKK attack  • Spotlight: Russia stresses airstrikes in Syria target IS, Western fears groundless  • Singapore's Merlion statues to undergo restoration: tourism board  • Vietnam, Cuba ink trade, cooperation accords  • Madrid derby in week 7 in Spain, but it's Villarreal who defend the leadership  • Malaysian authorities hunt for three more suspects in Bangkok bombing  • Vinci reaches Wuhan Open semifinals  • LG unveils smartphone V10 with dual front cameras, secondary display  • Iran says number of nationals killed in Mecca stampede rises to 464  • China to always stand together with Sri Lanka to enhance bilateral ties, says ambassador  
You are here: 　 Home

Mexico's energy reform improves after 2nd tendering phase

Xinhua, October 1, 2015 Adjust font size:

Three out of five shallow water oil fields put up as part of the second licensing phase of Mexico's Round One were tendered successfully to international consortiums on Wednesday.

The Argentinean consortium Pan American Energy, Fieldwood Energy from the United States, as well as Italy's ENI International won contracts to extract hydrocarbons from specific fields.

Italy's state-owned ENI won the first contract to oversee three oilfields, Amoca, Mizton and Teocalli. This was the most hotly contested contract as all of the nine participating companies tabled a bid for it.

These three fields contain proved and probable (2P) reserves of 107 million barrels of light oil and 69 billion cubic feet (bcf) of natural gas at 33m depth.

ENI's contract covers an area of 67 square kilometers, offering 83.75 percent participation for the state in the operating unit. This beats out Russia's Lukoil with a 75 percent participation and Pan American Energy with 68.23 percent.

Other unsuccessful bids include China's CNOOC, the German group DEA Deutsche Erdoel, Fieldwood and Talos Energy from the United States, Norway's Statoil and Malaysia's Petronas.

The second contract covers 40 square kilometers of the Hokchi field, with 2P reserves of 61 million barrels of light oil and 29 bcf of natural gas at 28m, and it was taken by Pan American Energy with a 70 percent of participation for the state in the operating unit.

The consortium is also very broad as it gathers Pan American Energy as well as E&P Hydrocarburos and Servicios, with a wide range of partners.

Fleetwood, in an alliance with Mexico's Petrobal, finished in second place with a proposed 65 percent of participation for the state.

The fourth contract was won by Fieldwood and Petrobal, which tabled the only one bid. The two oil fields of Ichalkil and Pokoch cover 58 square kilometers, with 2P reserves of 68 million barrels of light oil and 92 bcf of natural gas at 102m.

No bids were tabled for the third and fifth contracts, covering the oil fields of Xulum, Mison and Nak, with areas now being declared as void.

The success of the second phase of Round One represents a major boost for the Mexican government and the National Hydrocarbons Commission. With 60 percent of fields assigned, this phase will alleviate some pressure on Mexico's Energy Reform after the first phase with 14 percent only.

The third phase of Round One is set to take place on Dec.15. Endi