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Pemex announces a new oil finds in Mexico's Tabasco state

, 2011

An oil field providing initial production of 3,700 barrels per day (bpd) of petroleum and 8 million cubic feet of natural gas was found in the eastern state of Tabasco, state-owned oil giant Petroleos Mexicanos, or Pemex, said Monday.

The field, located about 10 kilometers (6.2 miles) from the city of Comalcalco, was found due to the “intense exploration activities being carried out” in different parts of Mexico, Pemex said.

Exploratory well Pareto-1, with a total depth of 7,124 meters (23,357 feet) was drilled in the field, allowing the discovery of the oil and gas, Pemex said.

Efforts are underway to calculate the total reserves in the field, the state-owned oil company said.

“With the successful results from this well, Pemex will increase current production in the region, while at the same time confirming the potential of similar areas,” the company said.

The discovery of the field “adds value” to areas located in the same region as the test well and that have similar “seismic-structural conditions,” possibly yielding additional reserves of light crude, Pemex, Mexico's largest company, said.

Mexico's proved hydrocarbon reserves stand at 13.79 billion barrels of oil equivalent (boe), or 1.4 percent less than the 13.99 billion boe reported last year, Pemex said last week.

The country's hydrocarbon reserves total 43.07 billion boe, of which 15.01 billion barrels are “probable” and another 14.26 billion barrels are “possible,” Pemex said.

Mexico's proved reserves are good for 10 years of production, probable reserves for 20.8 years of production and total reserves are good for 31.1 years of production, the state-owned oil giant said.

Around 5.7 billion barrels of crude have been discovered in the past four years, Pemex said.

Story from EFE .

EFE / Mon Apr 4, 2011


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