Mexico & Nafta - November 2018

Oil discovery: On 9 October Mexico’s state-owned oil firm, Pemex, announced the discovery of seven new hydrocarbon deposits in two offshore wells in the Gulf of Mexico, which have the potential to add more than 180m barrels of oil equivalent (MMBOE) of proven, probable, and possible (3P) reserves. The ‘Manik’ well, located 102km from Ciudad del Carmen, Campeche state, has two deposits and Pemex estimates it holds 80 MMBOE of 3P reserves. ‘Mulach’ is located off the coast of Tabasco state and its five deposits are estimated to hold over 100 MMBOE of 3P reserves. Pemex CEO Carlos Treviño said that the company is also currently assessing two other fields, ‘Kinbe’ and ‘Koban’, discovered respectively in 2011 and 2016. Treviño also announced that Pemex will soon start exploiting the ‘Xikin’ and ‘Esah’ fields, both discovered in 2015 and believed to contain 350m MMBOE. The Pemex press release outlines that these advances confirm the potential of the Gulf of Mexico’s southeast basin; and that further investments in this area will contribute to accomplishing the goals that Pemex has laid out for the forthcoming years.

End of preview - This article contains approximately 397 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial