Pemex Discovered 7 Oil & Gas Fields in 2005

Mexico's state oil company Pemex discovered seven new oil & gas producing fields in 2005 located in the Gulf of Mexico, Veracruz state and the Burgos basin in the country's northern region, the company said in its annual financial report.

Pemex's Pit 1 field in the eastern Campeche area is producing 2,200 barrels of heavy crude a day initially, while the Ichalkil-1 field is producing 1,800b/d of light crude, according to the report.

Pemex's Xanab-1 field, part of the company's light crude marine project, is producing 4,300b/d of light crude.

Meanwhile, Pemex's Niquel-1, Antiguo-8 and Caravana-1 fields in the Burgos basin are producing 3.8 million cubic feet a day (Mf3/d), 4.3 Mf3/d and 4.7Mf3/d respectively of unassociated natural gas, the report said.

Finally, Pemex's Huace-1 field in Veracruz state is producing 5.3Mf3/d of unassociated natural gas, the report said.

Pemex expects oil production from its Cantarell field, its largest oil field, will fall 6% to 1.91 million barrels a day in 2006 compared to 2005 and will keep falling to 1.68Mb/d in 2007 and 1.43M/d in 2008, depending on whether it receives the required investment amounts, the report said.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Broussard: AFO Monitoring Specialist, Sr
Expertise: Geoscientist
Location: Broussard, ME
Mid to Senior-Level Environmental Geologist
Expertise: Environmental Engineer|Geologist
Location: Wichita, KS
Senior GIS Analyst- Spatial Data Management
Expertise: Geoscience Technician
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.38/BBL 2.44%
Light Crude Oil : $50.43/BBL 2.26%
Natural Gas : $3.14/MMBtu 0.94%
Updated in last 24 hours