Pemex announced its first farmout in deepwater in Mexico; the
main T&C of the JOA with Pemex, the contractual and fiscal
terms are not yet revealed. Bidding guidelines to be published in
July 2016.
The Board of Directors of our national oil company (Pemex)
authorized the migration of its Entitlements No. AE0092-Belt
Subsalt-1 and AE0093 Belt Subsalt-11 in deepwater in the Gulf of
Mexico, which form together the block called
"Trion". This means that Trion
will not be developed by Pemex alone. This also means that Trion
will be subject to an international bidding procedure, which will
be called by Mexico's National Hydrocarbons Commission
(Comisión Nacional de Hidrocarburos)
("CNH"), so that the winner(s) become partner(s) of Pemex
in a consortium, in order to perform a Contract for Exploration
& Extraction of Hydrocarbons (the "CE&E").
No details have been shared yet by the Federal government as to (i)
T&C for the Joint Operating Agreement between Pemex and
