Abandonment, Resigning and Return Guidelines
On August 24, 2023, the Mexican National Hydrocarbons Commission (Comisión Nacional de Hidrocarburos) (“CNH”) published in the Federal Official Gazette (Diario Oficial de la Federación) (“DOF”) the “Decree CNH.30.06/2023 by means of which the Guidelines for Abandonment, Resigning, and Return where issued” (the “Guidelines”). The Guidelines entered into effect on the business day following its publication (i.e., August 25, 2023).
In terms of the Guidelines, the “Decree CNH.12.002/18 by means of which the National Hydrocarbons Commission instructs the Assignments and Contracts Technical Administration Unit to process and solve, through the General Director of Technical Administration of Contracts, the requests for the disposal of goods, assets and/or materials of the contracts for the exploration and/or extraction of Hydrocarbons”, dated August 30, 2018, is abrogated (the “Goods Disposal Agreement”). Likewise, the contractual area resigning or return procedures initiated prior to the publication of the Guidelines, will be resolved in accordance with the Goods Disposal Agreement and other applicable regulation.
