Pemex Production Schedule on Target
Mexico's 3.62 million bpd output target puts it on course for a 500,000 barrels a day rise in output from the first five months of this year, when it produced an average of 3.167 million bpd, of which 18 percent was Isthmus light crude and 15 percent was Olmeca superlight. This is up from an average of 3.127 million bpd for the whole of 2001, of which Isthmus light and Olmeca superlight together comprised 36 percent.
Mexico is eager to raise output of the more expensive light crude and focusing its drive in fields in southeast Mexico and offshore of Tabasco state in the Mexican Gulf, Pemex's head of exploration and production Luis Ramirez said. Munoz said that with the help of controversial new multiple service contracts, which are due to be tendered in November, Pemex aims to hike crude oil production by 30 percent and natural gas output by 50 percent from 4.5 billion cubic feet per day in 2006.
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