The National Hydrocarbons Commission (CNH) fined Shell Exploración y Extraction de México and Eni México with a conventional penalty of $3.7 and $23.4 million, respectively, for non-compliance with minimum work programs for deep and shallow water crude oil exploration, in each . issue.
At a regular session of the CNH Board of Directors, it was pointed out that in the case of Shell Exploración y Extraction de México, it is a deepwater contractual area, located off the coast of Veracruz and Tabasco, with a surface area of approx. It has an area of 3,066.83 km², and is associated with contract CNH-R02-L04-AP-CS-G03/2018 in license mode.
The initial exploration period ran until April 29, 2024, the effective date of abandonment of the contract. As a result of non-compliance with the Minimum Work Program obligations, the amount necessary to implement the work units that were not executed at the end of the initial exploration period must be paid, as a traditional penalty, to the Mexican Oil Fund.
The Authority indicated that the contractor approved 101,989.9 work units, out of 106,700 committed units, and therefore 4,710.1 units were not implemented.
The traditional penalty for non-compliance with the 3 million Minimum and Increased Work Program is $688,008.30, which is equivalent to the Compliance Guarantee amount.
Meanwhile, the Eni Mexico unconformity corresponds to a contractual area in shallow water, located off the coast of Veracruz with an approximate surface area of 807.75 km², associated with contract CNHR03-L01-G-CS-01/2018 in joint production mode.
The end of the Initial Exploration Period was May 4, 2024. The amount due is the amount necessary to perform work units that were not executed at the end of the Initial Exploration Period, up to the Initial Performance Guarantee amount.
The contractor approved 57,437.72 work units, out of 86,119 committed units; Of these, 28,681.28 units were not implemented. From the above, the traditional penalty amounts to $23,360,902.56.
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