Mexico’s Grupo Carso acquires PetroBal

PetroBal Operaciones Upstream is a subsidiary of Grupo Bal and owns PetroBal Upstream Delta 1, an entity that holds a 50% interest in the Ichalki and Pokoch oil fields, located off the coast of the southeastern Mexican state of Campeche, and which represents a vital area for hydrocarbon extraction operations.

With this transaction, Carso continues consolidating its participation in the upstream  sector in Mexico, adding to the acquisition of the Zama Field completed in 2023 and its several years of experience in offshore platform manufacturing, Jack Ups, and onshore and offshore drilling.

Mexican law firm Basham, Ringe y Correa acted as sole legal counsel to Grupo Carso, with a team led by partner Juan Carlos Serra, with  Pablo Nosti, Fernando Osante and  Pamela Salas. 

Hogan Lovells represented Grupo Bal in the transaction, with a team led by partner Carlos Ramos, with Perla Diaz Taracena, while Grupo Carso’s in-house team was led by Carlos Facha and Grupo Bal’s in-house team by Gerardo Carreto, Hugo Quesada and Javier Pardo.