23  January  2019

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 Infopetro -> Industry in Focus

Sino-Mexican Consortium Wwins Oilfield Eexploration Contract in Mexico


A consortium of one Chinese and two Mexican companies on

Wednesday won a contract to explore and extract

hydrocarbons from a field in eastern Mexico.

The consortium, which consists of three companies -

China's Shandong Kerui, and Mexico's Sicoval MX and

Nuevas Soluciones - obtained the contract for Area Six, a

field of 193 square kilometers in the Veracruz oil belt,

which has potential to provide liquefied gas.

The award was a close-run affair after the consortium

presented a proposal which was equal to two other bids in

terms of investment.

However, the Sino-Mexican consortium offered to pay

$2.179 million in cash for the contract, a superior sum

to its competitors, Mexican firm Carso Oil and Gas and a

consortium of four American and Mexican companies.

According to Mexico's National Commission of

Hydrocarbons, the Chinese firm is a subsidiary of the

Kerui oil firm, dedicated to oil and gas exploration and


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