Bolontikú

Location and Operation

• The Bolontikú oil field is located in shallow water in Mexico.

Operator

• The field is operated by Petróleos Mexicanos (Pemex), the state oil and gas company of the United Mexican States.

Type of Field

• Bolontikú is a producing conventional oil field.

Ownership and Legal Structure

• As a project operated by Pemex, it falls under the umbrella of the Mexican government. Pemex and its subsidiary entities, including Pemex-Exploration and Production, are decentralized public entities of the Federal Government of Mexico.

Risks and Challenges

• While specific risks for the Bolontikú field are not detailed, Pemex's operations in general are subject to various risks such as production risks (fluctuations due to operational hazards, natural disasters, accidents), equipment risks, and transportation risks. Additionally, there are risks of sabotage, terrorism, cyber attacks, and criminal attempts to divert crude oil or natural gas.

Financial and Operational Context

• Pemex's financial performance and operational capabilities are influenced by its overall business activities, including its various subsidiaries and financial instruments. For example, Pemex issues bonds and notes to finance its operations, which are guaranteed by the company and its subsidiaries.

Reserve Estimates and Uncertainty

• Although specific reserve estimates for the Bolontikú field are not provided, Pemex's reserve estimates in general involve some degree of uncertainty. The Mexican nation, not Pemex, owns the hydrocarbon reserves in Mexico, and these estimates are subject to revision.

Security and Environmental Concerns

• Pemex's facilities, including pipelines and other infrastructure, are vulnerable to attacks, sabotage, and environmental damage. Historical incidents include pipeline attacks and other forms of sabotage that have resulted in significant damage and loss of life.