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CNH administers contracts with 73 oil companies

The National Hydrocarbons Commission (CNH) administers 111 contracts for the exploration and extraction of hydrocarbons, in which 73 oil companies from 20 countries participate, including Pemex, according to information as of June 30.

Of the current contracts, 103 derive from Bidding Rounds, three are Associations with Pemex and five are Pemex Migrations.

During the period from September 1, 2019 to June 30, 2020, the CNH carried out the ratification of nine discoveries of oil and associated gas fields, made by Pemex; eight of them are located in the Southeast Basins, in its marine portion; and the ninth, in the same oil province, in the southern portion of the state of Veracruz.

Also as of June 30, the federal government estimates that the original volume of hydrocarbons discovered is 285 million barrels of oil and 684 billion cubic feet of associated gas.

In addition to the discoveries made by Pemex, the CNH became aware of four new fields that were discovered by other companies, through contracts for the oil rounds.

These discoveries are located in the Gulf of Mexico, three of them correspond to the shallow water zone and one in deep water.

Current estimates indicate that these four discoveries contain a volume of approximately 463 million barrels of oil and 100 billion cubic feet of associated gas.

Likewise, the CNH issued between September 2019 and June 2020, a total of 285 resolutions that will allow oil operators to develop the stages of the hydrocarbon value chain.

CNH

Through the monitoring carried out by the CNH, there is a record of an investment made by Pemex from September 2019 to June 2020 of 124,600 million pesos in extraction activities, mainly associated with the drilling of 138 wells (36 marine and 102 land ), which highlights that there was greater intensity in this activity compared to the previous period, this in conjunction with the execution of 208 major repairs and 1,884 minor repairs.

Lastly, the Commission approved the plans for Pemex’s 17 priority oil fields, which took an average of 33 days, less than the maximum allowed by the regulations (85 days).

 

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