Pemex proposed a 140bn-peso (US$12.9bn) budget for next year compared to this year's 110bn pesos, Gil said.
"Drilling equipment we contracted three years ago at US$50,000-60,000 a day today costs US$120,000-150,000 a day," he said.
Despite an increase in resources, oil production will remain unchanged at an average of 3.3 million barrels a day due to higher technology and material costs, he said.
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