Friday, July 31, 2020

Six new oil discoveries reported between January and March in Mexico

These fields add resources for 338 million barrels of oil. In the first quarter of the year, various companies made six oil discoveries in the country, of which five were found by Petróleos Mexicanos (Pemex) and one by the Italian company Eni. These fields add resources for 338 million barrels of oil. According to the National Hydrocarbons Commission (CNH), Pemex was successful in Tlamatini-1EXP, where the estimated resources are 34 million barrels of oil. The regulatory body for the sector specified that 102 million barrels of oil and 186 billion cubic feet of gas are expected in Chejekbal-1EXP, while in Xolotl-1EXP seven million barrels of oil and 22 billion cubic feet of gas are expected. In turn, in Itta-1EXP, Pemex estimates resources for 29 million barrels of oil and 18 billion cubic feet of gas, while in Vinik-1EXP around 23 million barrels of oil and 355 billion feet cubic gas.

For its part, the Italian oil company Eni discovered in Saásken-1EXP around 143 million barrels of oil and 68 billion cubic feet of gas. With this, the discoveries made between January and March last add resources for 338 million barrels of oil, of which 195 million belong to Pemex, equivalent to 57.7 percent of the total. Eni’s 143 million represents 42.3 percent. The CNH specified that in the first three months of the year they registered 64 drilling notices, 50 of them from Pemex, which represent 78 percent, as well as one from Eni, seven from Diavaz, one from Pantera, one from Petrofac, two from SMB , one from Hokchi and one from Cardenas-Mora. This would represent investments of 15 thousand 639 million pesos, while the total production programmed in this is 61 thousand 835 barrels of oil per day and 94.8 million cubic feet per day of gas. The Commission also authorized the drilling of 12 exploratory wells, of which three are onshore, five in shallow water and four in deep and ultra-deep water; Of the total of these, six belong to Pemex, two to Repsol and one to Shell, CNOOC, Lifting and Newpek.

The authorizations represent a total programmed investment of 521.7 million dollars: 60.1 percent will go to deep and ultra deep water wells, 34.2 percent to shallow water and 5.7 percent to land drilling. The average prospective resources in 11 of the 12 authorized wells, given that one is a delimiter, total two thousand 571 million barrels of crude oil equivalent.

Source: El Financiero

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