Pemex announces six Gulf of Mexico oil finds

Pemex announces six Gulf of Mexico oil finds

Pemex, Mexico’s state oil firm, announced on Tuesday that it had made six new offshore oil finds in the Gulf of Mexico, according to Reuters.

The discoveries comprise two in deep water and four in shallow and it is thought they could produce 22,000 barrels per day (bpd).

The deep-water pair are 220 kilometres (137 miles) off the coast of Tamaulipas state in the country’s northeast in 3,000 metres of water. They have the potential to produce 15,000 bpd.

And the four shallow ones are 30 kilometres (18.6 miles) offshore between the states of Veracruz and Tabasco in 44 metres of water, with potential for 7,000 bpd.

Pemex said the discoveries were made a few months ago but they withheld the announcement so they could quantify the reserves and assess their commercial viability.

The news came just a few days after the national government announced its budget for 2017 in which Pemex’s funding will be cut by $5.3bn.

Pemex has seen its output decline for 10 years and for the past three years has seen its domestic monopoly position undermined as the government opens up the energy sector.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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