0950 CNH: Pemex Migration with Partner: Mission, Burgos

Description: Production-sharing contract CNH-M3-MISSION/2018 for the exploration and extraction of hydrocarbons in onshore areas, in an area of 1,692.75 km2 in the oil province of Burgos for the exploration and extraction of gas. On December 19, 2014, Pemex and Servicios Múltiples Burgos requested the Ministry of Energy to migrate Assignment A-0398-Mission (now AE-0398-M-Mission) in accordance with the procedure provided for in the Hydrocarbons Law, in order to enter into a new contract under the Production-Sharing Modality. On February 22, 2018, the CNH became aware of the future signing of the Contract for the Extraction and Exploration of Hydrocarbons under the Production-Sharing Modality corresponding to the migration of Assignment A-0398-Mission (now AE-0398-M-Mission). The State is entitled to: 1. Royalties. 2. 35% of the operating profit for the month in question. 3. The contractual share for the exploratory phase. There are two possible extensions to the contract term, subject to the contractor being up to date with its obligations. Additional terms will last up to 5 years or up to the economic limit of the development areas. Hydrocarbons Exploration/Production