Mexico City, June 23, 2017. Citla Energy (“Citla” or “the Company”), an
independent Mexican oil & gas exploration and production company, announced
that it has been awarded 3 new blocks as part of Mexican Round 2.1. The blocks
were awarded under production sharing contracts with a duration of up to 40
years (30 years plus two 5 year extensions) and are located in the south east
of the Gulf of Mexico, one of the most prolific and under explored shallow
water basins in the world, covering ca. 1,500km2, in water depths of 100-500
meters and approximately 50 kilometers offshore, in good proximity to Pemex’s
existing infrastructure. Citla was awarded the following blocks in consortiums
with ENI of Italy and Cairn Energy PLC:
• Block 7:
Citla (25%), ENI (45%, operator), Cairn (30%)
• Block 9: Citla (35%), Cairn (65%,
operator)
• Block 14: Citla (40%), ENI (60%
operator),
Blocks 7 and 9 attracted half of the total
bids from the whole round, a testament to their attractiveness, whilst block 14
was secured with one of the highest profit share for the contractor.
Citla’s success in Round 2.1 is a major
step towards the Company’s strategy to build a robust portfolio of highly
selected offshore and onshore assets in Mexico through active participation in
the Mexican Energy Reform, both independently and in partnership with other
industry participants. With these contract awards, Citla has strengthened its
position as a leading local player in the nascent Mexican oil & gas
industry and as an institutional partner of choice for a select group of
international oil and gas operators.
Citla is an independent Mexican oil and gas
company founded in 2015, with strong institutional investors that include
international and local funds managed by ACON Investments, including capital
from some of the largest Mexican pension funds, as well as IFC, a member of the
World Bank Group, and the China Mexico Fund.
Alberto Galvis, CEO of Citla said, “We are delighted with the results of Round 2.1, not only for having been awarded all of the three fields that Citla’s team carefully selected and bid for, but for the partnership we formed with high quality operators such as ENI and Cairn. We are excited about both the potential of these assets and the Mexican Energy Reform in general and look forward to working together with our partners in developing these and other assets in the future”.
About
Citla
Citla Energy is a Mexican independent
exploration and production company. With offices in Mexico City and Houston,
Citla is an active participant in the opening of Mexico’s oil & gas sector,
where it is building a portfolio of selected onshore and offshore assets both
independently and in partnership with other industry participants. For
more information, visit wwwcitlaenergy.com.
About
ACON Investments
ACON Investments, L.L.C. is a Washington,
DC-based international private equity investment firm that manages private
equity funds and special purpose partnerships that make investments in the
United States and Latin America. Founded in 1996, ACON has responsibility for
managing approximately $5.5 billion of capital. ACON has professionals in
Washington, DC, Los Angeles, Mexico City, São Paulo and Bogotá. Its portfolio
firms employ approximately 43,000 globally. For more information, visit
www.aconinvestments.com.
About
China-Mexico Fund
The China-Mexico Fund is a $1.2 billion
fund managed by the IFC Asset Management Company which aims to support the
reforms introduced in Mexico by the Government. The Fund makes equity,
equity-like and mezzanine investments mainly in infrastructure, oil and gas and
in other sectors, including manufacturing, agribusiness, services and banking.
To learn more visit www.ifcamc.org.
About
IFC