Pemex Finds Large Oil Fields in Shallow Waters of Gulf of Mexico Reuters
go to original June 11, 2015

Mexico's Pemex Unveils Large Oil Find (wochit Business)

The Mexican state oil company Pemex has announced one of its biggest discoveries in years, unveiling new shallow water oil fields in the southern Gulf of Mexico that it says could produce 200,000 barrels per day by mid-2018.

The total proven, probable and possible reserves of the fields could be as high as 350m barrels of crude-oil equivalent, said Pemex’s chief executive officer, Emilio Lozoya.

The new fields off the coast of Tabasco and Campeche states comprised three of light crude and one of heavy crude, and could start coming onstream in 16 months, Pemex said.

“It’s a recent achievement and one of great magnitude,” Lozoya said.

The fields would take around three years to reach their full 200,000 barrel per day capacity, said Jose Antonio Escalera, director of exploration for Pemex.

Read the rest at The Guardian

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!