Giant Crude Oil Deposit Discovered in Mexico

0
335

Mexico’s Pemex announces discovery of ‘giant’ crude oil deposit

Mexican state oil company Pemex said on Friday it has discovered a deposit in southeastern Mexico that could yield 500 million barrels of crude.

Mexican officials call this discovery the largest such finding in more than 30 years.

Pemex discovers giant crude oil reservoir in Tabasco mexico
Pemex discovers giant crude oil reservoir in Tabasco, Mexico. Picture: Jorge Díaz Serrano – PEMEX.com / Public Domain via Wikipedia

Pemex said it first discovered the field in Tabasco state in May, before beginning studies to evaluate its viability.

The site, called Quesqui, is a so-called 3P reserve, made up of deposits considered proven, probable and possible.

With the analysis of information provided by this well and seismic data in the area, we can confirm today the existence of a giant deposit equivalent to 500 million barrels of crude oil in a 3P reserve,” Pemex Chief Executive Octavio Romero Oropeza said in a statement.

He added that Pemex aimed to extract 69,000 barrels per day (bpd) from the site by next year, and reach 110,000 bdp by 2021.

President Andres Manuel Lopez Obrador has made it a top priority to revive Pemex, which has seen production steadily decline for more than a decade while its debt has grown dramatically. [Reuters]

Yes, we are not out of the oil era… I hope you enjoyed the reading. Now you can continue on Strange Sounds for other news headlines. A visit to our friend Steve Quayle is also a good advise. Meanwhile:

Follow us: Facebook and Twitter. By the way you can also support us on Paypal. Please and thank you!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.