Weekly Report - 11 October 2012 (WR-12-40)

MEXICO | High hopes for new oil find. On 5 October President Felipe Calderón announced that a huge new oil deposit had been found in deep waters in the Gulf of Mexico, at a depth of almost 4,000 metres — “Pemex’s deepest so far, and the world’s fourth deepest”. He said that  the state-owned oil firm, Pemex, expected to certify new 3P (proven, possible and probably reserves of 75m to 125m barrels of light crude, noting that if probable reserves were to average 100m bbl it would be like getting 10% of Pemex’s annual production from the Supremus 1 well alone.

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