CNH Approves Second Exploration Period for Eni México

CNH has approved a second two-year exploration period for Eni México in the contractual area CNH-R02-L01-A9.CS/2017, located in the shallow waters off the coast of Tabasco. This decision allows Eni México to continue its exploration activities over an area of approximately 562.37km2.

The first additional exploration period, which began on Dec. 12, 2022, is set to conclude on Dec. 12, 2024. Eni México submitted its request for the second additional exploration period (SPAE) to CNH on Oct. 10, 2024, meeting the requirements outlined in contractual clause 4.4 and Art. 39 of the Law of Coordinated Regulatory Bodies in Energy Matters (LORCME). CNH confirmed that Eni met all necessary conditions, including completing work units equivalent to drilling an exploratory well, a commitment that extends into the second period. The operator has also fulfilled all contractual obligations, ensuring the continuation of its planned exploration activities.

The SPAE, effective from Dec. 12, 2024, will enable Eni México to continue its exploration endeavors, contributing to the development of hydrocarbons in the region.

In June, the commission authorized modifications to Eni México's 2024 work program and budget for contract CNH-R02-L01-A9.CS/2017. The modifications to the 2024 work program and budget were required by the rescheduling of drilling activities and the procurement of materials and supplies from FY23 to FY24. The goal of these changes was to accelerate the understanding of Mexico’s oil potential and the replenishment of hydrocarbon reserves, which is vital for national energy security.