Four new discoveries could generate 200 MBOPD

Petroleos Mexicanos (PEMEX) announced last week that the company made its largest discovery in the last five years. The four offshore finds are located in the southern Gulf of Mexico, in an area known as Litoral of Tabasco, according to a press release from PEMEX. The finds are located near the company’s most productive find, the Ku Maloob Zaap.


Source: PEMEX

During the Mexican Petroleum Congress, PEMEX CEO Emilio Lozoya said that the new finds could start production within approximately 16 months and achieve a stable production platform in an additional 20 months. Lozoya said the company expects an incremental daily production of at least 200 MBOPD of crude oil and 170 MMcf of gas. PEMEX said three of the finds will produce light crude while the fourth will produce a heavy crude.

The total proven, probable and possible reserves of the fields could be as high as 350 million barrels of crude-oil equivalent, Pemex’s Chief Executive Officer Emilio Lozoya told an oil conference in Guadalajara, reports Reuters.

Mexico will auction 14 oil and gas exploration blocks near the finds next month. Energy minister Pedro Joaquin Coldwell said the finds would make the tenders more attractive, reports The Guardian.

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