Economy Mexico to Boost Daily Oil Output by 10% With Four New Fields...

Mexico to Boost Daily Oil Output by 10% With Four New Fields – Pemex

Pemex CEO Emilio Lozoya
Pemex CEO Emilio Lozoya

Mexican state-run oil company Pemex said it would increase its oil output by almost 10 percent a day.

According to the company’s announcement made Wednesday, it discovered four new oil deposits off the coast of the states of Tabasco and Campeche.
Pemex CEO Emilio Lozoya said the total oil output on the new fields could reach 200,000 barrels per day. They could also allow producing 4.8 million cubic meters of natural gas daily.Lozoya said the total amount of oil reserves in the new deposits was estimated to be 350 million barrels.

The CEO pointed out that the production on the new oil fields could start within the next 16 months.

In March, Pemex said Mexico had revised its oil production plan, reducing the daily production for 2015 by some 5 percent from 2.4 million to 2.29 million barrels a day.

At the time, the company’s exploration and production director general said Mexico planned to postpone its plans to boost the level of daily oil production to 3 million barrels by 2020.



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