Pemex discovers oil and gas with Pareto-1 on the Gulf Coast

By Phaedra Friend Troy

State-run Petroleos Mexicanos (Pemex) revealed Monday that the company has made an oil and natural gas discovery with its Pareto-1 exploration well on the Mexican Gulf Coast

The Pareto-1 well was drilled to a total depth of 7,124 meters, and the hydrocarbons were encountered between the depths of 6,100 and 7,130 meters. The discovery well transected a reservoir contained in limestone, locating oil and gas in the Crustaceous and Jurassic formations. 

Pemex achieved initial production rates at the Pareto-1 discovery well of 3,700 barrels of oil a day with 8 million cubic feet of natural gas. 

Located in the state of Tabasco about 10 kilometers from the city of Comalcalco, the Pareto-1 well is a part of the Comalcalco Project. 

Pemex hopes that this discovery will prove that the region is hydrocarbon-rich and will confirm the productivity of the area. Pemex has also identified other prospects in the area that demonstrate similar conditions and characteristics. 

For the 12th straight year, oil production has dropped in Mexico. In an effort to curb this trend, Pemex has launched the first public licensing round in Mexico in more than 70 years.

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