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PEMEX spends US$6.4 billion on E&P in first half of 2009
MEXICO CITY
Petroleumworld.com, July 17, 2009In the first half of 2009, Petroleos Mexicano (PEMEX) subsidiary Pemex Exploración y Producción (PEP) spent over 88 billion pesos (US$6.4 million) on exploration and production projects in four main areas, the northeast and southeast marine regions and the north and south of the company.
PEMEX said the money was spent to advance its drilling programs and strengthen infrastructure to meet national demand for hydrocarbons.
The investments were oriented towards the development of fields, incorporation of reserves, evaluation of potential, well intervention, drilling equipment, modernization and optimization of infrastructure, installation of production equipment, improvement of recovery, definition and characterization of reserves and other projects.
In the first six months of the year, PEP invested 24 billion pesos into the northeast marine region. Projects here include exploration in territorial waters in west Campeche and producing fields such as Cantarell, Ek-Balam and Ku-Maloob-Zaap.
Hydrocarbon production from the region from January to June was around 1,533,000 b/d of oil and 1.854 MMcf/d of natural gas.
PEP spent another 18 billion pesos in the southeast marine region over the same time period.
From January to June, over seven billion pesos were invested into development and exploration wells, over two billion pesos into well intervention and maintenance, over three million into maintenance, pipelines and security and over five million into construction, studies, seismic surveys and other projects.
Major projects in the area include Crudo Ligero Marino, Golfo de Mexico B, Coatzacoalcos and the producing fields Caan, Ixtal Manik, Chuc and Yaxche. During the first six months of the year, the area produced around 516,000 b/d of crude and 1.99 MMcf/d of natural gas.
Story from Energy Current
AFP 07/15/2009
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