Sources say that Mexico's Pemex awarded a contract to a Slim Company for the gas and condensate fields.

Three sources familiar with the matter confirmed that the Mexican state company Pemex awarded a contract to a Carlos Slim-controlled firm for a natural gas and crude oil field. This is another step in strengthening Slim's presence in the energy industry.

The state-owned company had awarded five contracts in the same format in mid-December.

Pemex will retain at least 40% of the partnership under this new model. Pemex planned to award 11 contracts of this type last year, but the interest was muted.

Was unable to determine who owned the Slim company and the value of the contract. One source said that the contract was signed just last week. Pemex, as well as a Slim spokesperson, did not respond when asked for comment.

Macavil contract is Slim's latest foray into energy as he expands his business empire that already includes consumer goods, telecommunications and infrastructure.

Macavil's proven reserves are?7million barrels (bcfs) of condensate, and 73 billion cubic foot (bcfs) of gas. Its possible reserves are 34million barrels condensate, and 409bcfs of gas.

According to a document viewed by, the goal of this joint venture is to produce 27.5 million barrels oil and 393 billion cubic feet of gas between 2045.

Pemex’s strategic business plan, which was presented just a few weeks ago, predicts a peak crude production rate of 14,000 barrels a day in the field by 2028.

Slim, who is one of the richest men in the world, has been able to develop close business relations with Mexican governments that have different ideological bents over the years. He also becomes increasingly close to state-owned company, which is heavily indebted.

Slim's Grupo Carso has agreed to fund the drilling of 32 wells at the Ixachi field operated by Pemex, which is the largest known gas deposit in the country.

Slim's companies, through Talos Mexico, which is a subsidiary of Talos Energy have also partnered up with Pemex, Harbour Energy and the offshore oilfield?Zama.

Carso has signed an agreement with Pemex to develop the Lakach deepwater project in 2024. The goal is to revive a plan that was abandoned twice due to cost. In October, the company announced that it was evaluating the viability of the project.

Slim has also expanded his influence in the Mexican energy sector beyond Pemex. Carso announced mid-January that it had purchased a Lukoil affiliate to take full control of Ichalkil and Pokoch. (Reporting and editing by Adriana Barera and Ana Isabel Martinez, and Jamie Freed and Stefanie Eschenbacher)

(source: Reuters)