PEMEX discovers new oil fields

This year Petroleos Mexicanos explore 30 wells, obtaining 45 percent success in their commercial viability (above the international average), allowing to incorporate total 3P reserves (Proven, Probable and Possible) by about a billion oil barrels equivalent, of which 57% are light oil and gas condensate, 20 percent heavy oil and 23 percent to non-associated gas, with an average discovery cost of $ 2 dollars per barrel.

Thereby, Pemex will reach a rate of return of 3P reserves of 85 percent, it will be possible to reverse the downward trend that has occurred in this indicator. The total investment in exploration activities this year amounted to 35 billion of pesos.

With new discoveries of Teocalli-1001 and Jaatsul-1 wells in shallow waters, it is estimated to achieve a production of 40 thousand oil barrels and 30 million cubic feet of gas per day. Coupled with the four discoveries announced in the first half of this year, the additional production in shallow waters rise by 140,000 oil barrels and 120 billion cubic feet of gas per day by early 2018.

In order to provide certainty and accelerate the development of discovered fields, Pemex developed a major program of delimiters wells next year. For this reason, the Board of Directors authorized to allocate $ 300 million dollars that will boost the program boundaries. In this sense, we successfully defined the eastern bloc Tsimin shallow water field in the Litoral de Tabasco, which may start its development and subsequent operation.

With regard to deep water, we were able to delimited the Nat field, we discovered Hem fields in front to the coast of Veracruz, and Cratos in the area of ​​Cinturon Plegado Perdido at north of the Gulf of Mexico in front of Tamaulipas. Currently it delimited in this same area the Exploratus field.

Also, two land areas were discovered in Veracruz near to existing infrastructure fields (Licanto 1 and Licayote 1) to incorporate an approximate production of 4,000 oil barrels and 90 million gas cubic feet per day by the end of 2016.

Source: PEMEIMG_3553X Exploración y Producción 9/12/2015


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