Pemex awarded a CSIEE contract to the CME Oil & Gas, Opex and Perforadora Akal consortium to develop the Bacab and Lum fields, with a private investment of 1.65 billion dollars for the next 15 years.
Mexican Petroleum (Pemex) awarded a Comprehensive Exploration and Extraction Services Contract (CSIEE) for the development of the Bacab and Lum fields to the consortium formed by CME Oil & Gas, Opex Drilling Machine and Akal Professional Driller.
The fields are part of the asset Ku – Maloob – Zaap, located in shallow waters 104 kilometers northeast of Ciudad del Carmen, Campeche. Currently, they have estimated reserves of 183 million barrels of crude oil equivalent (mmbpce), according to public data from the National Hydrocarbons Commission (CNH).
Through this agreement with Pemex, the consortium made up of CME Oil & Gas SA de CV, Opex Perforadora SA de CV and Perforadora Profesional Akal I, SA de CV, owned by businessman Alfredo Miguel Bejos, will assume all the risks by committing to an investment program of 15 years, which will amount to 1,650 million dollars and will include 100% of capital expenditures (CAPEX) and operations (OPEX).
This assignment is in addition to the one recently granted to GSM Bronco and Operadora CICSA, both subsidiaries of Grupo Carso, for the development of the Lakach deepwater gas field.
The CSIEE offer multiple advantages for the national oil company, allowing it to develop fields with private investment, reducing its risks and maintaining its status as an operator, as well as ownership of the field and reserves.
It is important to highlight that this contract, unlike those signed at the beginning of the current administration, includes new incentives to increase and optimize hydrocarbon production.
In the CSIEE, unlike oil rounds, the contractor is obliged to deliver all production to the State, thus benefiting the operational flows of Pemex, which is responsible for validating the engineering, in addition to managing and marketing the production obtained.
Bacab and Lum are part of the Ku-Maloob-Zaap asset, located in the Campeche Sound. In 2023, this area was the main crude oil producer with an average of 615 thousand barrels per day, representing 33.2% of Pemex’s total crude oil production. Therefore, it is extremely relevant to the operational objectives of the State’s productive company.
Looking ahead, the proven reserve in this area, located in the Northeast Marine Region, is very promising. According to data acknowledged by Pemex before the Security Exchange Commission (SEC) last April, there are still more than 1.8 billion barrels of crude oil and 0.533 billion cubic feet of natural gas to be extracted.
