CNH approves additional land exploration activity for Pemex, Pantera and Carso

The National Hydrocarbons Commission approved to Pemex Exploration and Production a new exploration plan for the Limonaria land area, located north of Veracruz, where investments of 30 million dollars are expected in the next four years, while two land operators: Carso and Jaguar, requested extensions to continue their exploration activities , also on land in the north of the country.

In the 93 extraordinary session of the governing body, the CNH detailed that in the case of Pemex, the assignment that will come into operation is geographically located in the northwestern portion of the state of Veracruz, approximately 112 kilometers northwest of the municipality of Poza Rica de Hidalgo, Veracruz, in the Tampico-Misantla oil province.

The Exploration Plan objective consists of evaluating the potential is to incorporate hydrocarbon resources in the Mesozoic plays (Lower Cretaceous, Upper Jurassic Kimmeridgian and Lower Jurassic) within the area, as well as the visualization and generation of new exploratory prospects.

The Plan presents the Base and Incremental operating scenarios, to be developed in the 2021-2024 period, stated Pemex to receive the endorsement of the regulator of upstream activities in Mexico.

“In the Base Scenario, the exploratory activities consist of the processing of 2D and 3D seismic information and eight exploratory studies, as well as the drilling of the Chiki-1EXP exploratory prospect. In the Incremental scenario, the activities consist of the acquisition of 2D seismic information, 11 exploratory studies, and the drilling of exploratory prospects Kampux-1EXP, and Zarzaparrilla-1EXP ”, stated the oil company.

The Plan estimates an incorporation of hydrocarbon resources in the Mesozoic plays of up to 78.48 million barrels of crude oil equivalent (estimated at the average without risk) considering both operating scenarios and an investment between 9.09 and up to 30.89 million dollars is projected, considering both operational scenarios.

On the other hand, the Mexican firm Pantera, a subsidiary of Jaguar Exploration and Production which was the largest winner of land awards within the oil tenders of the past administration, requested two more years to reach discoveries in the CNH-R02-L02-A4.BG/2017 block, where it has been operating and investing for four years for just over $ 3.4 million in that period.

This is the Land Contract in the form of a License. The Contract Area is located in the municipalities of China and Méndez, in the states of Nuevo León and Tamaulipas, respectively, with an area of ​​231.37 square kilometers.

At once, Carso Oil and Gas It also requested that it be granted two more years, as stipulated in the contracts signed in 2017 to continue with the exploration of blocks CNH-R02-L03-CS-04/2017, where it has invested 4.3370 million dollars, and CNH-R02- L03-CS-05/2017, where it has invested 3,427 million dollars.

The first of these areas is a land contract in the form of a License. It is a Land Contract Area located in the municipality of Hidalgotitlán, Veracruz, with an area of ​​244.77 square kilometers.

In the case of the second area, it is the Contract in the form of License. It is a Terrestrial Contractual Area that crosses the municipalities of Hidalgotitlán, Minatitlán and Uxpanapa, Veracruz, with an area of ​​233.59 km². Its Exploration Plan was authorized by the CNH on the date of the block in the previous point, that is, on December 13, 2018.

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