Petróleos Mexicanos is pleased to announce that its subsidiary Pemex Exploración y Producción, participating jointly with the companies Inpex Corporation and Chevron Energía de México S. de R.L. de C.V., a subsidiary of Chevron Corporation, whereby the latter is the leader of the consortium, were declared winners of Block 3 North of the Fourth Tender of Round 1.

This block covers an area of 1,687 square kilometres and is located in a water strap between 500 and 1,700 metres.

This result represents a historical event, as this is the first block adjudicated to Pemex in a partnership in a competitive process, after the Energy Reform, and it consolidates its strategic position in the Cinturón Plegado Perdido Area.

The assignment of this project strengthens the exploration portfolio, which will contribute to the achievement of the goals established in the Petróleos Mexicanos Business Plan.

About Pemex

Pemex, Mexico's state oil company, is engaged in the exploration, production, transportation, refining, storage and sale of hydrocarbons and derivatives. Its products include petrochemicals, natural gas, liquid gas, sulphur, gasoline, kerosene and diesel. Pemex operates 344 production fields, 6,382 production wells, 225 off-shore platforms, 6 refineries, 8 petrochemical complexes, 7,896 km of gas pipeline, 4,548 km of oil pipeline, and 19 LPG distribution terminals.

For the energy sector this is good news because Trion has possible reserves and no oly prospective resources like the rest of the blocks in round 1.4.

This announcement is also good news for the country because the investments that will flow into Mexico for the exploration and exploitation of this fields and the rest of the blocks of round 1.4 will enable the development of infrastructure and will foster employment in the region.

About INPEX

INPEX CORPORATION is Japan’s largest exploration and production (E&P) company, and a mid-tier E&P player just behind the world’s oil majors. INPEX is currently involved in approximately 70 projects across more than 20 countries, including the Ichthys LNG Project in Australia as Operator. Through sustainably growing its oil and gas development business, INPEX aims to become a top class international oil and gas E&P Company and continue providing a stable and efficient supply of energy to its customers.

About Chevron

Chevron Corporation (NYSE: CVX) is one of the world's leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; and additives; generates power and produces geothermal energy; and develops and deploys technologies that enhance business value in every aspect of the company's operations. Chevron is based in San Ramon, Calif.