I. CNH-A6-7-Asociaciones/2018
a) Tender Guidelines
- Regarding the allocation mechanism, SHCP determined fix values to the Additional Royalty:
- Allocation variable – amount offered in cash by the Bidders – will be divided as follows: (i) 20% for the State to be paid along with the execution of the Contract, and (ii) 80% for PEP, to be paid along with the following Initial Payments:
Contractual Area |
Initial
Payment* (USD Millions) |
Artesa | 86 |
Bacal-Nelash | 66 |
Bedel-Gasífero | 128 |
Cinco Presidentes | 120 |
Juspí-Teotleco | 36 |
Lacamango | 146 |
Giraldas Sunuapa | 5 |
Any draw will be defined through a toss.
b) E&E Contract
- Preexisting Damages. The Contract determined that the definition of such damages will be in terms of the applicable legal framework.
- Provisional Program. Once the Development Plan and the Exploration Plan be approved, the Provisional Program will be replaced.
- Unitization. The clause was eliminated and only specifies that in the event of inferring a shared reservoir, Contractors must follow the procedure provided by the Guidelines.
- Annex 3. The values of the additional royalty were added.
c) JOA
- The Development Plan definition was aligned with the definition stipulated by the E&E Contract.
- To align the E&E Contract with the JOA, the latter provides that during the Start-up Transition Stage the Operator shall carry out the activities included in the Provisional Plan.
- The abandonment and remediation are not an independent Program anymore, now is a section of the Work and the Budget Program.
- To guarantee the operational continuity, Operators must hire PEP personnel for additional services.
- The following annexes were added: Property Transfer Agreement; Guidelines for the Integral Equipment of Projects; Secondee Agreement; Power of Attorney for Lawsuits and Collections, and Terms and Conditions for the Temporal Disposition of Oil and Gas.
II.CNH-R03-L02/2018
Tender Guidelines
- CNH confirmed that the Contractual Area Moloacán remains in this Tender Bid since the early termination procedure of the Contract CNH-R01-L03-A14/2015 was concluded.
- SHCP determined the following minimum and maximum values for the Additional Royalties:
Sources: 36th Extraordinary Session of CNH.
Muvoil Consulting is a group of specialists in the O&G sector: legal, fiscal, social and environmental. Our multidisciplinary approach allows us to design strategic solutions that can disentangle the most complex regulatory and transactional challenges that a petroleum project can face.
Layla Vargas
General Director