EX-10.3



 Exhibit 10.3 (Part 1 of 3) 
  

			
	



	  	 PRESIDENT - ROBERT C. BARG

 
 VICE PRESIDENTS 

ALLEN E. EVANS, JR.

RANDOLPH K. GREEN

JOHN G. HATTNER
 C. H.
(SCOTT) REES III
 DANNY D. SIMMONS

DAN PAUL SMITH

THOMAS M. SOUERS


 April 25, 2017 
  

 
 Mtro. José Antonio González Anaya 

Petróleos Mexicanos 
 Avenida Marina Nacional 329 

Torre Ejecutiva, Piso 41 
 Colonia Verónica Anzures 

11300 Ciudad de México, México 
 Dear Mtro. González Anaya: 

We hereby consent to all references to our firm as set forth in the Annual Report on Form 20-F of
Petróleos Mexicanos (“Pemex”) for the year ending December 31, 2016 (the “Form 20-F”), under the heading “Exploration and Production (Reserves)”, and to the filing of
our audit letter dated April 17, 2017, as an exhibit to the Form 20-F. We have audited the estimates of Pemex’s proved oil, condensate, plant liquids, dry gas, and oil equivalent reserves, as of
January 1, 2017, for 72 fields located in the Poza Rica-Altamira District, Mexico. These estimates were prepared by Pemex Exploración y Producción in accordance with the reserves definitions of Regulation S-X Rule 4-10(a) of the U.S. Securities and Exchange Commission. 
  

							
		 	Sincerely,	 	
		
		 	NETHERLAND, SEWELL INTERNATIONAL, S. DE R.L. DE C.V.
				
		 	By:	 	   




  
	 	         
		 		 	Robert C. Barg, P.E.	 	
		 		 	President	 	

  
 RCB:LMS 

  
 2100 ROSS
AVENUE, SUITE 2200 • DALLAS, TEXAS 75201-2737 • PH: 214-969-5401 • FAX: 214-969-5411 








 Exhibit 10.3 (Part 2 of 3) 
  

			
	



	  	 PRESIDENT - ROBERT C. BARG

 
 VICE PRESIDENTS 

ALLEN E. EVANS, JR.

RANDOLPH K. GREEN

JOHN G. HATTNER
 C. H.
(SCOTT) REES III
 DANNY D. SIMMONS

DAN PAUL SMITH

THOMAS M. SOUERS


 April 25, 2017 
  

 
 Mtro. José Antonio González Anaya 

Petróleos Mexicanos 
 Avenida Marina Nacional 329 

Torre Ejecutiva, Piso 41 
 Colonia Verónica Anzures 

11300 Ciudad de México, México 
 Dear Mtro. González Anaya: 

We hereby consent to all references to our firm as set forth in the Annual Report on Form 20-F of
Petróleos Mexicanos (“Pemex”) for the year ending December 31, 2016 (the “Form 20-F”), under the heading “Exploration and Production (Reserves)”, and to the filing of
our audit letter dated April 17, 2017, as an exhibit to the Form 20-F. We have audited the estimates of Pemex’s proved oil, condensate, plant liquids, dry gas, and oil equivalent reserves, as of
January 1, 2017, for 26 fields located in the Litoral de Tabasco District, Mexico. These estimates were prepared by Pemex Exploración y Producción in accordance with the reserves definitions of Regulation S-X Rule 4-10(a) of the U.S. Securities and Exchange Commission. 
  

							
		 	Sincerely,	 	
		
		 	NETHERLAND, SEWELL INTERNATIONAL, S. DE R.L. DE C.V.
				
		 	By:	 	   




  
	 	         
		 		 	Robert C. Barg, P.E.	 	
		 		 	President	 	

  
 RCB:LMS 

  
 2100 ROSS
AVENUE, SUITE 2200 • DALLAS, TEXAS 75201-2737 • PH: 214-969-5401 • FAX: 214-969-5411 








 Exhibit 10.3 (Part 3 of 3) 
  

			
	



	  	 PRESIDENT - ROBERT C. BARG

 
 VICE PRESIDENTS 

ALLEN E. EVANS, JR.

RANDOLPH K. GREEN

JOHN G. HATTNER
 C. H.
(SCOTT) REES III
 DANNY D. SIMMONS

DAN PAUL SMITH

THOMAS M. SOUERS


 April 25, 2017 
  

 
 Mtro. José Antonio González Anaya 

Petróleos Mexicanos 
 Avenida Marina Nacional 329 

Torre Ejecutiva, Piso 41 
 Colonia Verónica Anzures 

11300 Ciudad de México, México 
 Dear Mtro. González Anaya: 

We hereby consent to all references to our firm as set forth in the Annual Report on Form 20-F of
Petróleos Mexicanos (“Pemex”) for the year ending December 31, 2016 (the “Form 20-F”), under the heading “Exploration and Production (Reserves)”, and to the filing of
our audit letter dated April 17, 2017, as an exhibit to the Form 20-F. We have audited the estimates of Pemex’s proved oil, condensate, plant liquids, dry gas, and oil equivalent reserves, as of
January 1, 2017, for 27 fields located in the Aceite Terciario del Golfo District, Veracruz, Mexico. These estimates were prepared by Pemex Exploración y Producción in accordance with the reserves definitions of Regulation S-X Rule 4-10(a) of the U.S. Securities and Exchange Commission. 
  

							
		 	Sincerely,	 	
		
		 	NETHERLAND, SEWELL INTERNATIONAL, S. DE R.L. DE C.V.
				
		 	By:	 	   




  
	 	         
		 		 	Robert C. Barg, P.E.	 	
		 		 	President	 	

  
 RCB:LMS 

  
 2100 ROSS
AVENUE, SUITE 2200 • DALLAS, TEXAS 75201-2737 • PH: 214-969-5401 • FAX: 214-969-5411