Mayer Brown announced today that it represented Ecopetrol S.A., Colombia’s state-owned oil company, in its successful bids for securing production sharing contracts for the exploration and extraction of hydrocarbons in two shallow water oil and gas blocks in Mexico in connection with the Bid Round 2.1 conducted by the National Hydrocarbons Commission of Mexico (CNH-R02-L01/2016).
Ecopetrol in consortium with PC Carigali México (a subsidiary of Malaysia’s state-owned firm Petronas) submitted the winning bid and secured a contract for Block 6, located offshore the state of Veracruz and covering 559 square kilometers. Ecopetrol in consortium with Pemex Exploración y Producción (an affiliate of Petroleos Mexicanos/Pemex) submitted the winning bid and secured a contract for Block 8, located offshore the state of Tabasco and covering 586 square kilometers. The participation of Ecopetrol in both blocks is 50 percent.
The achievement marks Ecopetrol’s entry into the Mexican oil and gas market and is part of the company’s strategy to strengthen and diversify its exploration and production activities. View Ecopetrol’s press release.
The cross-border Mayer Brown team included lawyers from the firm’s Global Energy Group in Mexico City and Houston and was led by partner Pablo Ferrante and associate Jessica Solis.
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4. November2020