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Pemex refocusing deepwater strategy, might ask for rights over Pit-Kayab fields



By Daniel Rodriguez / Platts

Petroleumworld 05 14 2019

Mexico's state Pemex is evaluating how to best restart work in its deepwater portfolio, according to a senior company executive.

"We're analyzing when it will be an appropriate and convenient time to return to deepwater projects," Ulises Hernandez, Pemex's upstream reserves and associations director, said at the Offshore Technology Conference in Houston. "Now, our focus is primarily in shallow water and onshore," Hernandez said Tuesday. "Although, we will continue studies so when we have to return to deepwater, we will be ready to do so."

Pemex's new business plan is expected to be released in the coming months, he added.

The company halted its deepwater drilling activities since completing the Nobili-1DEL appraisal well in the Perdido Foldbelt in the first quarter, Hernandez said. The well produced an average 9,500 b/d, according to Pemex.


When asked if the government would not develop deepwater Maximino-Nobilis Field, Hernandez said: "The project isn't dead. Maximino-Nobilis continues in this pool of fields that are under evaluation to find the best strategy to advance them."

Maximino-Nobilis has 1.5 billion barrels of oil in place, with 502 million barrels of oil in proven, probable and possible reserves, Mexico's National Hydrocarbon Commission has said.

Hernandez said Pemex is analyzing the advances in its Trion farm-out with BHP. Its partner is preparing to drill its third well in the area before year's end.

"Trion is giving good results, and we hope based on this we can define our strategy going forward," he added.


Pemex also is evaluating with the government directly obtaining a production license of the Pit-Kayab shallow-water heavy oil fields.

"These are discoveries that have a synergy with what Pemex has," Hernandez said. Both fields have not yet been assigned by the government. The previous administration of Enrique Pena Nieto considered auctioning them, but the plan was never concreted.

Pit-Kayab are located next to the Ayatzil-Tekel-Utsil (ATU) project, itself adjacent to the Ku-Maloob-Zaap complex, which is Pemex's largest asset, producing near to 800,000 b/d in March, according to the government data. With a combined 500 million boe in proved and probable (2P) reserves, Pit and Kayab could help Pemex increase its production. if included possible reserves (3P) bot areas have 1.2 billion boe in resources.

Pemex currently is developing ATU, opening a window of opportunity to extend to Pit-Kayab.

Both discoveries were not granted to Pemex under Mexico's Hydrocarbon Auction Round Zero. The previous administration said several areas were not given to Pemex due to the company's financial or technical limitations.



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Story by Daniel Rodriguez; Edited by Richard Rubin from Platts / SPGlobal.

- 05 08 2019


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