On 27 March 2018, Pan American Energy with 100% working interest was granted a preliminary award for the 401 sq km Area 31, AS-CS-15 block from the CNH-RO3-LO1/2017 Bid Round.Â  The final official contract signature award is to take place within 90 days or 1 July 2018.    The company bid the maximum state take of 65.00% over the minimum of 22.5% for the Area 31 block and a work units factor of 1 equivalent to one well.     There were two      other bids for the block.Â  The      second highest bidder was the consortium of ENI and Lukoil who bid 42.35%      state take and 1 additional work units factor.    Â 
Pan American Energy with 100% working interest was granted a preliminary award for the 401 sq km Area 31, AS-CS-15 block from the CNH-RO3-LO1/2017 Bid Round. 