New Modification To Technical Guidelines For Hydrocarbons Measurement

On July 15, 2015, the Mexico's National Hydrocarbons Commission (Comisión Nacional de Hidrocarburos) ("CNH") approved the Resolution modifying the Technical Guidelines on Hydrocarbons Measurement Matters (the "Guidelines") (Lineamientos Técnicos en Materia de Medición de Hidrocaburos) (the "Resolution").

This Resolution is part of the "solutions" that the Mexico's upstream regulator is trying to implement due to the problems the operators of the onshore blocks recently awarded by CNH have found to give continuity to the petroleum activities in already producing areas, which is something that CNH did not foresee when such blocks were subject to bidding procedure. The reality is that those blocks continued production without these, and other matters, being even resolved.