• Live
    • Audio Only
  • google plus
  • facebook
  • twitter
News > Mexico

Mexico Discovers a Rich Oil and Gas Well

  • Commemoration of the 83rd anniversary of the oil expropriation law, Tabasco, Mexico, March. 18, 2021..

    Commemoration of the 83rd anniversary of the oil expropriation law, Tabasco, Mexico, March. 18, 2021.. | Photo: EFE

Published 19 March 2021
Opinion

This is the third major discovery during President Lopez Obrador's administration.

The public company Mexican Petroleum (PEMEX) on Thursday announced the discovery a new oil well whose potential daily production is estimated at 600 million barrels of oil equivalent (BOE).

RELATED: 

Mexico Urges OAS Not To Interfere in Bolivia's Internal Affairs

PEMEX Director Octavio Romero explained that the new field corresponds to the drilling of the exploratory well Dzimpona-1 located within the Comacalco assignment.

Preliminary evaluations forecast an increase of 4,287 million cubic feet per day of gas (MMSCFD) by the end of 2023 since the field also has gas associated with crude oil.

The well is close to the Valeriana and Racenosa fields, which add up to 1.2 billion BOE. This is the third major discovery during the administration of President Manuel Lopez Obrador (AMLO).

The discovery could elevate the area to an oil complex zone. From 2021 to 2023, 65 wells are expected to be drilled in this complex, pushing the production to 138,000 oil barrels per day (bbl/d).

Romero also ratified the PEMEX's strategy focused on the exploration and exploitation of wells located in onshore and shallow-water fields.

The National Hydrocarbons Commission reported oil production of 1.648 million bbl/d in January, a level 4.4 percent lower than that reported in the same month last year. 

Comment
0
Comments
Post with no comments.