MEXICO CITY Sep 17, 2007 (Dow Jones Newswires)
Petroleos Mexicanos hit record production of 606,538 barrels a day at Ku Maloob Zaap, a group of offshore oil fields, on Sept. 12, the company said Monday.
The area produces 14% of Mexico's total oil output and is helping the state firm compensate for declining production at Cantarell, the country's biggest oil field.
According to recent financial statements, Pemex plans to drill 12 new development wells at Ku Maloob Zaap this year and begin injecting nitrogen into the reservoir. Nitrogen injection increases reservoir pressure, improving oil production rates.
Pemex hopes to reach 800,000 barrels a day in output at Ku Maloob Zaap in 2010.
Copyright (c) 2007 Dow Jones & Company, Inc.
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