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Mexico announces 12 onshore oilfields to be put up for tender in 2017

Xinhua, August 24, 2016 Adjust font size:

The Mexican government announced on Tuesday 12 oilfields it would put up for tender in April 2017, for the extraction of dry and wet natural gas.

The fields have a combined surface of 5,066 square km and the total reserve estimated in the fields amounts to 643.2 million barrels of crude oil equivalent.

Nine of the oilfields are in the Cuenca de Burgos, a region rich in hydrocarbons in the northern states of Nuevo Leon and Tamaulipas, while the other three are in the southeast part of the country.

With an aim to extract dry and wet gas, the exploration of the 12 onshore oilfields is part of the second round of the country's energy reform kicked off in 2013, said the National Hydrocarbons Commission (CNH).

"The petrochemical industry will benefit from the rise in products such as ethane, propane and butane coming from these areas," Mexican Energy Minister Pedro Joaquin Coldwell told the media.

Infrastructure has already been built in 10 out of the 12 oilfields by Pemex, Mexico's state-owned oil company, allowing production to start there in 2018, Coldwell added.

Hector Moreira, a CNH commissioner, said that companies wishing to bid for these fields would have to show their capability to extract the resources without infringing on the lifestyle of indigenous communities living nearby.

The Ministry of Economy will evaluate and assign values to each of the fields over the coming weeks. Endit