Sino-Mexican consortium wins oilfield exploration contract in Mexico
Source: www.chinamining.org Citation: Xinhua Date: July 14, 2017
MEXICO CITY — 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 production.
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