The Cobra Group, through Avanzia, was awarded three new natural gas fields in Mexico

The Cobra Group was awarded, through Avanzia, three natural gas fields in the latest auction carried out by the National Hydrocarbons Commission (CNH), subordinate to the Mexican Government’s Department of Energy.

Specifically, Cobra will invest over €430 million in these three fields for the duration of the licence contracts, and it expects to reach a natural gas production volume in excess of 1 billion cubic feet and 1 million barrels of condensate, with a market value of over €860 million.

The winning bid covers block no. 1 in Round 2.2 and blocks BG1 and BG4 in Round 2.3, located in the Burgos basin, in the state of Tamaulipas, known for its great potential in natural gas production.

The Cobra Group operates in Mexico through Avanzia and is a leader in conventional generation and renewable generation projects, electricity transfer projects and upstream, midstream and downstream oil & gas projects.

They trust that this award will reinforce the growth of the oil services and hydrocarbon production sector.