Mexico Approves Slew of Upstream Oil, Natural Gas Work Programs

Mexico’s upstream oil and gas regulator Comisión Nacional de Hidrocarburos (CNH) last week approved a series of exploration and appraisal plans submitted by private sector firms and state oil company Petróleos Mexicanos (Pemex).

On Tuesday (Aug. 11), CNH approved six shallow water exploration plans submitted by Pemex, all for areas in Campeche Sound in the Gulf of Mexico, requiring combined investment of $461.7 million in a base case scenario, and up to $1.13 billion in an incremental scenario.

The approvals also included one for Pemex to drill an appraisal well at the Quesqui onshore gas and condensate project, which has been highly touted by the government. The well is expected to require $55.3 million of investment.

Finally, CNH approved an appraisal plan submitted...