Field Development | Government Bids | Deals - Licenses and Concessions
Tonalli Energia Awarded Tecolutla Block Onshore Mexico
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International Frontier Resources Corporation reported that Tonalli Energia, has been notified by the Mexico Comision Nacional de Hidrocarburos (CNH) that it has been awarded the Onshore Oil and Gas Development Block 24 (Tecolutla Block). Tonalli Energia is a Mexican company with the ownership split equally between IFR and Mexican Petrochemical Leader Grupo Idesa.
The Tecolutla Block was awarded to Tonalli as part of the first round and third call of Mexico's oil and natural gas "mature fields" bid round ("Round 1.3"), the first in almost 80 years. Each of the blocks offered in Round 1.3 attracted multiple bids.
The first place bidder was originally awarded the Tecolutla Block in December 2015, but did not meet the conditions and terms as required by CNH within the specified time frame. As…
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