On 8 December 2017, Jaguar Exploracion y Produccion de Hidrocarburos, S.A.P.I. de C.V. signed the contracts with the CNH and was granted official final awards for the CNH-RO2-L03-VC-02/2017 and CNH-RO2-L03-VC-03/2017 contracts from the CNH-RO2-LO3/2016 Bid Round.Â  The CNH-RO2-L03-VC-02/2017 contract is also known as the Area 7, VC-02 block.Â  The CNH-RO2-L03-VC-03/2017 contract is also known as the Area 8, VC-03 block.Â  Jaguar formed a separate subsidiary, Jaguar Exploracion y Produccion 2.3, S.A.P.I. de C.V. with 100% working interest as the official designated operating company for the blocks.Â  The 251.40 sq km CNH-RO2-L03-VC-02/2017 contract has a total financial commitment of USD 18.1 million, all in work commitments including two additional wells.Â  The 231.70 sq km CNH-RO2-L03-VC-03/2017 contract has a total financial commitment of USD 24.9 million all for work commitments including two additional wells. On 12 July 2017 Jaguar Exploracion was the high bidder in the CNH-RO2-LO3/2016 Bid Round for the Area 7 and Area 8 blocks in the Veracruz Basin and was granted preliminary awards. Â  For the 251.40 sq km Area 7 block there were two other bids.Â  Jaguar offered the maximum additional royalties of 40% and 1.5 work unit factor equivalent to two additional wells.Â  It won the block after the second highest bid by Petrosyergy and Quimica Apollo was for 25.66 % royalties and 1.5 work units or two wells. Â  For the 231.7 sq km Area 8 block Jaguar offered the maximum additional royalties of 40% and 1.5 work unit factor equivalent to two additional wells.Â  There were no other bids for the block. Jaguar has 100% working interest in the contracts. The general license contract terms include a 1st exploration period of two years with the possibility of a two year extension.Â  In the case of a discovery the operator can request a two year evaluation phase for oil and a three year evaluation phase for non-associated gas discoveries once the evaluation plan is approved.Â  The total contract term is for 30 years with the possibility of two five year extensions for a 40 year total contract term from signature date. The base royalty rate is a sliding scale royalty depending on type of hydrocarbon and oil price.Â  The values for oil range from 5% for USD 40/bbl oil to 25% for USD 200/bbl oil.Â  The relinquishment schedule is tied to exploration well commitments.Â  If the exploration period ends but the operator offers to drill an additional well it doesnât have to relinquish any area.Â  If the exploration period ends and the contractor doesnât have any discoveries it must relinquish 100%.Â  If the exploration period ends and the operator doesnât offer to drill an additional exploration well it will have to relinquish 50% of the area.Â  Local content during the exploration period is 26% for the exploration and evaluation period, and varies from 27% to 38% in the development period.
Mexico (Sureste B.) (It's a petroleum rights. Please summarize by yourself). In IHS database: 12 op. by LUKOIL (100.0%) to be check.2 op. by PEMEX (50.0%, RWE 50.0%) to be check.7 op. by ENI SPA (45.0%, CAIRN EN 30.0%, CITLA 25.0%) to be check.8 op. by PEMEX (50.0%, ECOPETROL 50.0%) to be check.