The Mexican Association of Hydrocarbon Companies (Amexhi) explained that the exploration and production contracts reached an average production of 101,000 barrels of crude oil per day in May 2022. This volume, according to official data from the National Hydrocarbons Commission (CNH), represents 6% of national oil production. Additionally, 232 million cubic feet of natural gas were produced during the same month.
Juan Manuel Delgado, president of Amexhi highlighted that “reaching 101,000 barrels of production is a milestone for the hydrocarbon industry since it shows the commitment that companies have with the energy development of Mexico and with complying with the terms agreed in the contracts”.
This volume was extracted by 21 companies that operate 32 of the 110 existing hydrocarbon contracts in the country, which correspond to those assigned during oil rounds 1.2, 1.3, 2.2 and 2.3 between 2015 and 2017, as well as migrations with Petroleos partner Mexicans (Pemex) for fields Sanctuary-The Blow, Mission, Ebony Y Miquella and the associations in the blocks Cardenas-Mora and Ogarrio.
The 110 hydrocarbon contracts they have generated multiple benefits for the country, explained Amexhi. More than 58,000 total jobs have been created (13,000 jobs are direct), around 3,418 million dollars have been invested in national content and technology transfer from 2015 to 2021 and the industry is currently working in 120 locations implementing social and environmental projects that support the health, economy and environmental conservation of the inhabitants.
Regarding the transfer of resources to the State, data from the Mexican Petroleum Fund and the CNH indicate that, from the beginning of its operations until March 2022, the hydrocarbon industry has made payments to the State for 4,563 million dollars in consideration. associated with the production of hydrocarbons. On average, Mexico will receive 74% of the revenues generated by oil contracts according to the terms agreed in the contracts.
“It is very important to highlight the hard work that hydrocarbon companies have done in these years, particularly during the current emergency caused by Covid-19, which have delayed production or canceled investments globally,” said Juan Manuel Delgado, President of Amexhi. “However, despite this, the hydrocarbon companies in Mexico are committed to their operations and all are complying with their work plans.”
Delgado added that to the contracts that are currently in production, in the following months and years those that are still in the exploratory and delimitation phases where new deposits have been discovered will be added. The contracts signed since 2015 add up to 64 exploratory wells drilled until December 2021 and 17 new fields discovered, which increase the national crude oil reserves.