On March 12, 2019, Mexican President AndrésManuel López Obrador announced that tender to award contracts related to the construction of the new oil refinery to be located in the municipality of Dos Bocas, Tabasco State, could possibly be call by the Energy Ministry this coming March 18, 2019.
According to the Mexican government, for the construction of the new oil refinery there is currently a budget of $50 billion Mexican pesos, approximately USD $2.5billion.
Never the less, the estimated cost of this project could be of between USD $6.0 and USD $8.0 billion within a term of three (3) years, which is the projected term to finalize its construction.
The new refinery is expected to have a capacity for processing 340 thousand barrels of oil daily (which would include approximately 170 thousand barrels of gasoline and 120 thousand of diesel) and will refine crude oil of 22° API. Additionally, it will have 17 processing plants and 93 storage spheres.
The project aims to decrease the import of gasolines and diesel from abroad and making Mexico a self-sufficient producer and consumer of such products, while also aiming to increase the oil production capacity mainly from the State-Owned Productive Company, PEMEX.
The project intends to create up to 135 thousand direct jobs and is to be developed in a surface area of approximately 566 hectares located within a strategic region where oil extracted from Tabasco shores and the region known as “sonda de Campeche” may easily be transferred to the new refinery for its refining process.
The main Mexican States to benefit from this project would be Tabasco, Campeche andVeracruz.
Tender procedure for the construction of the refinery will be made through invitation to private companies.
This project is part of the national refining plan announced by the federal government, which aims to reduce the high amounts of oil products and crude oil which are imported by México as to be self-sufficient in three years since as of this date Mexico, as per official government information, imports 75% of the gasolines and diesel it requires and only produces 25%.
Additionally, Federal Government aims to increase oil production in approximately 2.4 million barrels of crude oil daily.
Moreover, the Energy Ministry has announced the following plans related to the National Refining Plan: (i) rehabilitation of the six existing refineries as to reach, by 2020, a production of 600 thousand barrels of gasolines per day.
The lawyers of the energy, mining and infrastructure area of our firm are available for any questions or comments on the above.
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Mexico City, March 15th, 2019.