Pemex makes shallow-water gulf oil find in first post-reform exploration success

Petroleos Mexicanos (Pemex) has discovered four oil fields in the shallow-water area off Tabasco and Campeche states, attributing the milestone to “new tools” provided by the nation’s recent energy reform.

The company describes the discoveries as “the first tangible result in exploration” since the reform, representing its biggest exploration milestone in the past 5 years after the Tsimin-Xux and Ayatsil discoveries (OGJ Online, Jan. 5, 2015).

The fields lie near the company’s Cantarell oil field complex, and could yield overall production of at least 200,000 b/d of crude and 170 MMcfd of gas, the company says. Pemex believes the fields could start production in 16 months.

One group of fields lying in Campeche offers possible short-term production startup with speculated output of 100,000 b/d of oil and 80 MMcfd of gas, while a second group in the Litoral de Tabasco area offers speculated production of 100,000 b/d of light oil and 90 MMcfd of gas.

Emilio Lozoya, Pemex chief executive officer, speculates the deposits could hold proved, probable, and possible reserves of 350 million boe. He noted that the findings are from recent exploration work by Pemex utilizing advanced technology including better seismic.

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