Pemex to Boost Power Supplies to Largest Oil Field

MEXICO CITY (Dow Jones Newswires), Sept. 3, 2009

Petroleos Mexicanos will spend about $120 million to increase electricity supplies to its biggest oil field, Pemex said Thursday.

Pemex awarded the contract to build a power station and underwater cables to local company Demar Instaladora y Constructora. The power station will supply seven drilling platforms.

Demar beat other bidders such as Mexico's Carso Infraestructura y Construccion, or Cicsa. Local units of Siemens AG and General Electric Co. also registered as bidders.

Ku-Maloon-Zaap turned out 797,000 barrels a day on average during the first seven months of this year, surpassing Cantarell as Mexico's biggest producer.

Mexican oil production has fallen nearly 25% since peaking in 2004, and Pemex has increased investments in oil exploration and production to help compensate for plummeting output at Cantarell.  

Copyright (c) 2009 Dow Jones & Company, Inc.

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