CNH signs contract with PEP, DS Servicios Petroleros and D & S Petroleum

Tuesday, September 4, 2018

This press release from Mexico's National Hydrocarbons Commission was published using an automatic translation system.

The National Hydrocarbons Commission (CNH), on behalf of the Mexican State, signed today with Pemex Exploration and Production (PEP) and with the companies D & S Petroleum, SA de CV (D & S Petroleum) and DS Servicios Petroleros, SA de CV (DS Servicios Petroleum), the Contract for the Exploration and Extraction of Hydrocarbons, under the modality of Shared Production, derived from the migration process of the AE-0391-M-Ébano Assignment (Contract).

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The Commissioner President of the CNH, Mtro. Juan Carlos Zepeda, Mr. Ulises Hernández Romano, Director of Resources, Reserves and Associations of PEP, Mr. Edgardo Luis Zagaglia Allende and Mr. Wang Xixian, legal representatives of DS Servicios Petroleros and D & S Petroleum, signed the Contract.

The Contractual Area is located in the Tampico Misantla Basin, located in the Northeast of Mexico, in the States of Veracruz, Tamaulipas and San Luis Potosí with an approximate area of ​​1,569,123 km2. The duration of the Contract will be thirty years with the possibility of two extensions of five years each.

For the third time, within the framework of the Energy Reform, a migration of an incentivized contract to one of Exploration and Extraction of Hydrocarbons is carried out.

The Contractor gave the CNH the corresponding corporate guarantees amounting to 500 million dollars, as well as the compliance guarantee for an amount of 30 million 780 thousand 6 dollars. The interest percentages of participation in this Contract are 45% for PEP, 54.99% for DS Servicios Petroleros and 0.01% for D & S Petroleum.

In its capacity as administrator and regulator, the CNH will verify the fulfillment of all the activities that will be developed in the framework of this Contract, which was incorporated today to the Contracts Digital Vault of the CNH, where it will be available to the public in https : //