On Sept. 15, 2017, the Commissioners of Mexico’s National Hydrocarbons Commission (CNH) held a meeting to discuss and approve an invitation to bid, the related Bidding Guidelines, and the exploration and production license model agreement (the “License Agreement”) for the selection of partner(s) for PEMEX Exploration and Production (PEP).
This is the second association of PEP through a farm-out agreement for exploring and producing hydrocarbons in the deep waters of the Gulf of Mexico, which will be carried out in the Nobilis–Maximino field. This new association will allow PEP to take advantage of the Mexican energy reform and improve its operating capabilities; share financial, technological and geological risks; and apply best industry practices in its activities.