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Coastal Contracts has signed a $1.14 billion engineering, procurement, and construction (EPC) contract with PEMEX for the Ixachi onshore gas field in Mexico. Signed on December 19, 2025, the contract involves a consortium led by Coastoil Dynamic, alongside Sistemas Integrales de Compresión and Nuvoil.

The project includes the construction of a gas sweetening plant with a capacity of 150MMcf/d, a separation facility processing up to 900MMcf/d of gas, and a new condensate pipeline. The contract also encompasses gas sweetening services for nearly nine years.

Construction timelines range from 300 to 517 days, starting after the completion of the sweetening plant. PEMEX will establish a trust account for payments sourced from hydrocarbon sales. This contract represents a new phase of development rather than a renewal of the previous agreement signed in January 2021, expanding Coastal's infrastructure role and financial involvement in Mexico's natural gas processing sector.