Project

CONTRACT FOR INTEGRAL EXPLORATION AND EXTRACTION SERVICES, LAKACH CONTRACTUAL AREA, IN DEEP WATERS OF THE GULF OF MEXICO.

Sector: Hydrocarbons


Last Update

December 02, 2022
 
Short Name of the Project:
0916 Lakach Exploration and Extraction Integral Services Contract
Type of Investment:
Greenfield
Subsector:
Upstream
Asset (s):
 Onshore Wells, Oil Field 
Contract Currency:
US Dollars
Estimated Investment MXN:

17,301,322,000

Estimated Investment USD:

839,870,000

Exchange rate (USD/MXN) used by the Ministry of Finance for the economic plan 2023: $ 20.6
Contract Scope:
  Design,  Construction,  Equipment,  Installation,  Operation,  Administration,  Maintenance,  Extraction

DESCRIPTION

The objective of the project is to maximize the economic value of the hydrocarbon reserves for the Lakach Field, located in the Lakach contractual area, and contemplates recovering a volume of gas of 847.90 MMMpc, which represents a recovery factor of 64.67% of the 2P reserve of the field, as well as recovering a volume of condensate by transporting and processing the produced gas equivalent to 3.58 MMb. It should be noted that the Lakach Field does not present a possible reserve.

For the exploitation of the field, the following activities are considered:

• Recovery and completion of the 6 development wells already drilled and currently temporarily plugged, as well as the recovery and major repair of the Lakach 2DL appraisal well, which is also plugged.
• Construction, installation and interconnection of underwater equipment, through 7 horizontal underwater trees, linked to two production collection centers or manifolds and their control distribution centers.
• Laying of marine pipelines: 1 Gas Pipeline of 18” diameter for 56.6 km from the submarine system to the Offshore Gas Processing Platform, 1 Gas Pipeline of 18” diameter for 16.77 km from the Offshore Gas Processing Platform to the point of sale in land, including its fiscal measurement, 1 pipeline of 4” in diameter by 14.37 km in length for the transport of condensates from the Offshore Gas Processing Platform to the point of sale on land and 1 Umbilical, in two sections, the main and the field one with a total length of 56.60 km. The laying of the pipelines towards the terrestrial part includes their beach arrival.
• Construction or enabling and installation of a Marine Gas Processing Platform for gas collection and conditioning, including compression.
• Activities for the abandonment of wells and facilities.

LEGAL AND FINANCIAL STRUCTURE

Type of Project
  Public / Private
Type of Contract
  Integral Services
Term
12 years
Selection Process
Direct Awarding
Financing Sources
Private
100 %
MXN
17,301,322,000
USD
839,870,000
Payment Source
Project revenues
Percentage of available cash flow, from project revenues after paying taxes and duties.

STATUS

Stage
  Execution
RELEVANT DATES
Request for proposals/Announcement May 19, 2022
Proposals Reception September 28, 2022
Ruling October 2022
Contract Signing November 21, 2022
Execution/Construction Starting Date November 22, 2022
Operation Starting Date July 2023
Term of the Contract November 2034
Contractor
NFE Upstream CO.  
Major Contractor’s Shareholders
New Fortress Energy

GEOLOCATION

State(s)
Deep waters of the Gulf of Mexico   

SPONSOR

Responsive image
Entity
Petróleos Mexicanos
Department
PEMEX Exploración y Producción
Gerencia de Operación de Contratos y Asociaciones de Producción Norte
Contact
Mario Alberto Vázquez Cruz
E-mail
mario.alberto.vazquez@pemex.com

REMARKS

The investment amount corresponds only to the capital investment of the project. It does not consider the costs of operation or abandonment that will be expended by the Service Provider. Peso/dollar parity 20.3

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