The National Hydrocarbons Commission (CNH) approved an investment program of US$33.6 million for the exploration and evaluation of the presence of hydrocarbons in an area awarded to Jaguar Exploración y Producción in Veracruz, during Round 2 of the oil tenders emerged from the energy reform.

The approved program includes US$11.4 million for exploration activities and another US$22.2 million for the evaluation program. The company plans to conduct drilling and production tests in order to obtain an estimate of prospective resources in the area.

Jaguar, a subsidiary of Monterrey-based Grupo Topaz, plans to carry out explorations in an area located north of the awarded block, where it estimates the presence 28,000 to 30,000 million cubic feet of dry gas.

Drilling will begin in the second half of this year.

MexicoNow

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