Market Note 210 Glossary of CNH Model Contract for Round 1.2

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MEI Market Note No. 210 Houston, September 24, 2015 Glossary of CNH Model Contract for Round 1.2 Most of the technical vocabulary is carried over from Round 1.1 M
OST OF THE TECHNICAL VOCABULARY from the model contract that served as the basis for the first public auction that was held by the Hydrocarbon Commission (CNH) on July 15, 2015, was carried over to the final model contract, dated August 25, 2015, to be used in the second auction scheduled for September 25 (see insert). From our database of more than 1,700 terms, we identified some three dozen terms or definitions that are new to the August 25th version of the contract. Roughly 120 terms and definitions are common to both auctions. These terms are sorted by the respective auction and then alphabetically, and we have provided provisional English translations for each term (Table 1). . Looking into the substantive matters of the model contract, we continue to find problematic issues: 1) The contract should state categorically that the
“nuclear option” of administrative rescission
will not be applied in response to a single event
(noting that BP did not lose its license on account of the Macondo accident).
2) At variance with the statement of Energy Minister Coldwell at an industry conference held in Mexico
City on August 18th, which was that operators will have the complete geological column included in
their contracts, there are vertical restrictions in three of the blocks: Tecoalli‐B, Hokchi‐B and Nak.
The presence of such limits will make qualified bidders hesitate to make offers.
3) The contract specifies that “no property rights are conveyed by the contract” (Art. 21.4). The
contract does provide the contractor with the right to compensation for specified expenses and a
share of the proceeds from production. Such benefits may be understood to be “property rights”
in relation to mineral contracts. In Round 1.1, such rights belong to the Mexican State, but in
Round 1.2 (as if to clarify matters) they belong to the Mexican Nation.
4) Operators should be given freedom to report their discoveries in Mexico in physical units.
5) In Round 1.1, the government was embarrassed by the outcome that resulted from the absence of
the provision for a technical tie (as happened with Block #7, where the difference between the
bids was less than 1%). The definitions applicable to Round 1.2 do not include this provision.
George Baker Publisher _______________________________________________________________________________________________________
_ info@energia.com MEXICO ENERGY INTELLIGENCE® ISSN 2380‐6400 Page 1 of 8
Table 1
WORKSHEET
FOR PROOFING TRANSLATION
Terminology of CNH
Round 1.2
#
Rec. ID
Article
Lexical Entry
Translation (trial)
Ronda 1 | 2nd Convocatoria - Bases de la licitación CNH-R01-L02/2015 (Consorcio)
1
1758
1.1
Abandono (Round 1.2)
Abandonment
2
1783
25.5
Arbitraje
Arbitration
3
1761
1.1
Costos Elegibles
Eligible costs
4
1762
1.1
Costos Recuperables
Recoverable costs
5
1763
1.1
Daños Preexistentes
Preexisting environmental damage
6
1787
21.4
Derecho de Terminación
Right of termination
7
1764
1.1
Etapa de Transición de Arranque
Transitional start-up stage
8
1765
1.1
Etapa de Transición Final
Final transition stage
9
1766
1.1
Evaluación de Impacto Social
Social Impact Study
10
1781
25.3
Experto Independiente
Independent expert
11
1768
1.1
Interés de Participación [Ronda 1.2]
Participating interest (%)
12
1759
1.1
Límite de Recuperación de Costos [Ronda 1.2]
limit of cost recovery
13
1769
1.1
Materiales Muebles
Matériel (as distinct from real estate)
14
1793
Annex 10
Modelo de Garantía de Cumplimiento
Model of a performance guarantee
15
1791
21.4
No Otorgamiento de Derechos de Propiedad
[Ronda 1.2]
Non-conveyance of property rights
16
1784
25.7
No Suspensión de Actividades Petroleras
Non-suspension of oilfield operations
17
1772
1.1
Período Inicial de Evaluación [Ronda 1.2]
Initial evaluation period
18
1773
1.1
Presupuesto
Budget
19
1774
1.1, Annex 4
Procedimientos de Contabilidad
Accounting procedures
20
1794
11
Procura de Bienes y Servicios
Procurement of goods and services
21
1786
21.3
Prórroga del Plazo del Contrato
Extension of the contract period
22
1785
21.3
Prórroga del Programa de Trabajo
Extention for period of Work Program
23
1778
1.1
Reglamento CNUDMI
UN regulation for the resolution of
international commercial disputes
24
1782
22.1, 25.2,
Rescisión administrativa [Ronda 1.2]
Administrative rescission
25
1777
1.1
Subproductos
By-products, co-products
dictionary@energia.com
9/24/2015
1
Table 1
WORKSHEET
FOR PROOFING TRANSLATION
Terminology of CNH
Round 1.2
#
Rec. ID
Article
Lexical Entry
Translation (trial)
26
1792
30
Totalidad del Contrato
Totality of the Contract
27
1795
Annex 13
Uso Compartido de Infraestructura
Shared use of infrastructure
BASES DE LA LICITACIÓN CNH-R01-L03/2015
28
1278
1.1
Abandono
Abandonment
29
1279
1.1
Actividades Petroleras
Life-cycle oil field actvities
30
1280
1.1
Agencia
Agencia for Industrial Safety and
Environmental Protection (ASEA)
31
1281
1.1
Almacenamiento
Storage
32
1282
1.1
Año
Year
33
1283
1.1
Año Contractual
Contractual year
34
1396
31.1
Anti-corrupción
Anti-corruption standard
35
1284
1.1
Aportación Anual
Annual contribution
36
1285
1.1, 2.2
Área Contractual
Contractual Area
37
1286
1.1
Autoridad Gubernamental
Government agency
38
1287
1.1
Barril
Barril
39
1288
1.1
Bases de Licitación
Auction documentation
40
1389
2.6
Cambio de Operador
Change of operatorship
41
1289
1.1
Campo
Field
42
1290
1.1
Caso Fortuito o Fuerza Mayor
Force majeure
43
1393
23.1
Cesión
Change of rights, obligations or
ownership
44
1394
25.2
Conciliación
Dispute resolution
45
1291
1.1
Condensados
Condensates
46
1292
1.1
Contraprestación
Payment (in cash or in kind)
47
1294
1.1
Contraprestación del Contratista
Payment in kind to Contractor
48
1293
1.1
Contraprestación del Estado
Cash payments to the State
49
1295
1.1
Contratista
Contractor
50
1296
1.1
Contrato
Contract
dictionary@energia.com
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Table 1
WORKSHEET
FOR PROOFING TRANSLATION
Terminology of CNH
Round 1.2
#
Rec. ID
Article
Lexical Entry
Translation (trial)
51
1297
1.1
Control
Control
52
1298
1.1
Convocatoria
Auction
53
1299
1.1
Costos
Costs
54
1300
1.1
Cuenta Operativa
Operating account
55
1301
1.1
Cuota Contractual para la Fase Exploratoria
Fee payable during exploratory phase
56
1387
2.2
Derechos de Propiedad
Property rights
57
1302
1.1
Descubrimiento
Discovery
58
1390
3.5, 6.1
Devolución
Relinquishment
59
1303
1.1
Día
Calendar day
60
1304
1.1
Día Hábil
Working day
61
1305
1.1
Documentos Técnicos
Technical documentation
62
1306
1.1
Dólares
U.S. dollars
63
1307
1.1
Empresas Participantes
Participating companies
64
1308
1.1
Evaluación
Evaluation
65
1309
1.1
Extracción
Production life-cycle of an oil well
66
1310
1.1
Fecha Efectiva
Effective date of contract
67
1311
1.1
Fideicomiso de Abandono
Escrow account for abandonment
68
1312
1.1
Filial
Affiliate
69
1313
1.1
Fondo
Oil Fund
70
1314
1.1
Garante
Guarantee of corporate parent
71
1315
1.1
Garantía Corporativa
Corporate guarantee
72
1316
1.1
Garantía de Cumplimiento
Performance guarantee
73
1317
1.1
Garantía de Cumplimiento Inicial
Guarantee of initial performance
74
1318
1.1
Garantía del Período Adicional
Guarantee for additional period
75
1319
1.1
Gas Licuado de Petróleo
LPG
76
1320
1.1
Gas Natural
Natural gas
77
1321
1.1
Gas Natural Asociado
Associated natural gas
78
1322
1.1
Gas Natural No Asociado
Non-associated natural gas
dictionary@energia.com
9/24/2015
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Table 1
WORKSHEET
FOR PROOFING TRANSLATION
Terminology of CNH
Round 1.2
#
Rec. ID
Article
Lexical Entry
Translation (trial)
79
1324
1.1
Hidrocarburos
Petroleum, natural gas, natural gas
liquids and methane hidrates
80
1323
1.1
Hidrocarburos de Autoconsumo
Hydrocarbons for self-use
81
1325
1.1
Hidrocarburos en el Subsuelo
Hydrocarbons in the subsurface
82
1326
1.1
Hidrocarburos Netos
Net (hydrocarbon) production
83
1327
1.1
Hidrocarburos Producidos
Total hydrocarbons produced
84
1397
32
Idioma
Contract language
85
1328
1.1
Incremento en el Programa Mínimo
Increase in the minimum work
commitment
86
1400
4.4
Incumplimiento del Programa Mínimo de Trabajo
Non-compliance with Minimum Work
Program
87
1424
28.2
Información pública
Public information
88
1329
1.1
Información Técnica
Technical information
89
1419
7
Instalaciones
Facilities; infrastructure; installations
90
1330
1.1
Instalaciones de Comercialización
Midstream infrastructure
91
1331
1.1
Instalaciones de Recolección
Gathering lines (and related
infrastructure)
92
1414
2.3, 24
Interés de participación (%) [Ronda 1.1]
Equity interest of participant (%)
93
1332
1.1
Inventario de Activos
Inventory of materials
94
1333
1.1
Ley de Hidrocarburos
Hydrocarbon Act of 2014
95
1334
1.1
Materiales
Matériel
96
1335
1.1
Mecanismo de Ajuste
R Factor
97
1336
1.1
Mejores Prácticas de la Industria
Best practices
98
1337
1.1
Mes
Calendar month
99
1338
1.1
Metodología
Methodology for measuring national
content
100
1386
2.1
Modalidad Licencia
License agreement
101
1418
5.3, 5.4
Modificaciones al Plan de Desarrollo por Parte de
la CNH
CNH right to modify contractor
development plan
102
1339
1.1, 2.1, 4.1,
8, 9.2, 11-28
Normatividad Aplicable
Applicable legal dispositions
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9/24/2015
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Table 1
WORKSHEET
FOR PROOFING TRANSLATION
Terminology of CNH
Round 1.2
#
Rec. ID
Article
Lexical Entry
Translation (trial)
103
1340
1.1
Notificación de Continuación de Actividades
Notification of continuation of activities
104
1341
1.1
Obligaciones de Carácter Fiscal
Fiscal obligations
105
1342
1.1
Obstáculos a la Continuación de la Perforación
Obstacles to the continuation of drilling
106
1343
1.1, 2.5
Operador
Operator
107
1344
1.1
Partes
Parties [to a contract]
108
1421
9.1
Perforación de Pozos
Well plan authorization
109
1345
1.1
Período
Period of a month
110
1346
1.1
Período Adicional de Evaluación
Additional period for appraisal
111
1349
1.1
Período de Desarrollo
Development Period
112
1347
1.1
Período de Evaluación
Evaluation period
113
1348
1.1
Período Inicial de Evaluación
Initial Evaluation Period
114
1350
1.1
Persona
Person (physical or corporate)
115
1351
1.1
Petróleo
Crude oil
116
1352
1.1
Petrolíferos
Refined products
117
1353
1.1
Petroquímicos
Basic Petrochemicals (understood in
Mexico as natural gas liquids)
118
1354
1.1
Plan de Desarrollo
Development Plan
119
1355
1.1
Plan de Evaluación
Evaluation Plan
120
1356
1.1, Anex 5
Plan de Transición de Arranque
Start-up Plan
121
1357
1.1
Plan de Transición por Terminación
Contract Termination Plan
122
1398
3.2
Plazo
Contract Period
123
1358
1.1
Pozo
Well
124
1359
1.1
Precio Contractual
Contract Price
125
1360
1.1
Primer Plazo Adicional
1st Additional Period
126
1362
1.1
Procedimientos de Contabilidad
Accounting procedures
127
1363
1.1
Procesamiento de Gas Natural
Natural gas processing
128
1364
1.1
Producción Comercial Regular
Regular commercial production
129
1365
1.1
Programa de Administración de Riesgos
Risk management program
dictionary@energia.com
9/24/2015
5
Table 1
WORKSHEET
FOR PROOFING TRANSLATION
Terminology of CNH
Round 1.2
#
Rec. ID
Article
Lexical Entry
Translation (trial)
130
1775
1.1
Programa de Trabajo [Ronda 1.2]
Work program
131
1366
1.1
Programa Mínimo de Trabajo [Ronda 1.1]
Minimal Work Program
132
1395
28.1, 28.2
Propiedad intelectual del Contratista
Intellectual property of contractor
133
1367
1.1
Propuesta
Winning offer
134
1399
3.3
Prórroga
Extension of contract period
135
1416
4.5
Pruebas de Formación
Test well notification
136
1368
1.1
Puntos de Medición
Measuring points
137
1369
1.1
Recolección
Gathering
138
1370
1.1
Reconocimiento y Exploración Superficial
Surface exploration
139
1371
1.1
Recuperación Avanzada
Enhanced OIl Recovery
140
1372
1.1
Regalía
Royalty
141
1373
1.1
Reglas de Mercado
Market competition
142
1415
3.5, 17
Renuncia del Contratista
Voluntary termination of contract
143
1423
Annex 4, XI
Reportes
Reports (electronic filing)
144
1391
22.1
Rescisión Administrativa
Administrative rescession
145
1392
22.2
Rescisión Contractual
Contractual rescession
146
1374
1.1
Reservas
Reserves
147
1388
2.4
Responsabilidad Solidaria
Joint and several responsibility
148
1375
1.1
Secretaría de Hacienda
Finance Ministry (SHCP)
149
1376
1.1
Segundo Plazo Adicional
2nd additional period
150
1385
1.2
Singular y Plural
Singular or plural construction
151
1377
1.1
Sistema de Administración
System of administration (of ASEA)
152
1378
1.1
Subcontratistas
Subcontractors
153
1379
1.1
Trimestre
Quarter year (3 months)
154
1380
1.1
Unidad de Trabajo
Work Unit
155
1796
1.1
Unidades de Trabajo
Work units
156
1420
8
Unificación
Unitization (of contract areas)
157
1381
1.1
Valor Contractual de los Condensados
Contract value of condensates
dictionary@energia.com
9/24/2015
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Table 1
WORKSHEET
FOR PROOFING TRANSLATION
Terminology of CNH
Round 1.2
#
Rec. ID
Article
Lexical Entry
Translation (trial)
158
1382
1.1
Valor Contractual de los Hidrocarburos
Contract value of hydrocarbons
159
1383
1.1
Valor Contractual del Gas Natural
Contract value of natural gas
160
1384
1.1
Valor Contractual del Petróleo
Contract value of crude oil
161
1422
Annex 4, 3.1
Verificación
Verification (by Finance Ministry)
162
1425
28.2
Volúmenes de Hidrocarburos Producidos
Contractor volumes
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9/24/2015
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