Pemex to Launch Burgos E&P Tenders in 60 days
Mexico's state oil company Pemex will launch three sets of E&P tenders in 60 days for the Burgos natural gas basin project, company CEO Luis Ramirez Corzo said in a statement.
The works total nearly US$2bn and aim to increase natural gas production an additional 200 million cubic feet day (Mf3/d; 5.66 million cubic meters a day).
The tenders' technical parameters are being defined for the project that will span the states of Nuevo Leon, Coahuila and Tamaulipas, Ramirez said.
Burgos output hit a record 1.34 billion cubic feet a day (Bf3/d) in July, while total production at the basin is expected to reach almost 2Bf3/d in 2011, Ramirez said.
Pemex has reached a record natural gas production of 5.5Bf3/d, which has helped reduce natural gas imports to 389Mf3/d from 800Mf3/d in 2004, Ramirez said.
From 1997-2005, nearly 2,600 wells were drilled at Burgos, said Ramirez, adding there are more than 5,500 sites where drilling could start this year.
Increased investment and private sector participation could help production at Burgos reach 2-3Bf3/d, which would be enough for self-supply and turn Mexico into a natural has exporter, according to the executive.
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.
- Pemex Signs Landmark Offshore Deal (Sep 21)
- Data, Source: Mexico's State-Run Pemex Pauses Light Crude Exports (Aug 31)
- Bay of Campeche Subsea Tieback Contract Goes to McDermott (Aug 01)