Mexican regulator approves US$2.6bn plan for Humapa-Coyol fields

Mexican hydrocarbons commission CNH approved a US$2.62bn development plan for national oil company Pemex’s E&P unit (PEP) at the Humapa and Coyol fields.

The fields are located in between the states of Puebla and Veracruz. 

Although assigned to Pemex under the Ronda 0 auction in 2014, a development plan was never presented and the energy ministry (Sener) requested creating one.

The goal is to extract up to 75Mb (million barrels) of oil and 215Bf3 (billion cubic feet) of gas from 2023-54, with 1,074 planned perforations and the construction of 65 ducts. 

The 157m2 contractual area is expected to reach its production peak in 2040.

Returned areas

At its session on Thursday, CNH also greenlit the termination of four contracts assigned during 2016-18 to three operators. 

The first approval ended a contract assigned to Calicanto Oil & Gas to explore and produce at the Calicanto field in Huimanguillo municipality, Tabasco state. The contract was awarded in 2016 and would have expired in 2025. 

The second terminated two contracts at the Burgos basin, where Repsol Exploración México had shared and partial production. The 30-year contracts were awarded in 2018. 

The last approval ended a contract assigned to BP Exploration at Salina basin, where the operator had a 35-year concession to produce since 2017.