Ecopetrol reports that in a public ceremony held today in Mexico City, Mexico's National Hydrocarbons Commission finalized the bidding process CNH-R02-L01/2016, awarding shared production contracts for hydrocarbon exploration and extraction in 15 Mexican shallow-water areas.
Ecopetrol S.A. submitted the best offers and was declared the winning bidder for two blocks in the southeast basins, together with Petronas and Pemex.
The first was Area 6 (559 square meters), along with its partner PC Carigali México (a Petronas subsidiary); the firms offered the government 65.19% of operating profits and an additional investment factor of 1.0, equivalent to one well.
The second block Ecopetrol won was Area 8 (586 square kilometers). In this block its strategic partner was Pemex de México and the operating profit offered to the Government was 20.10%, with an additional investment factor of 0.
The participation of Ecopetrol in both blocks is 50%.
This achievement is part of the strategy to strengthen and diversify exploration and production activities in Colombia and abroad, thus increasing hydrocarbon reserves. The Ecopetrol Group is active in the United States, Brazil, Peru and, as of today, Mexico.
Ecopetrol is arriving in this market through the Mexican Government's strategy of attracting foreign investment, with a commitment to implementing high standards of operations, industrial safety and corporate responsibility.