Petroleos Mexicanos (Pemex) has made a new offshore oilfield discovery in the southern part of the Mexican sector of the Gulf of Mexico in the Gulf of Campeche.
The Mexican newspaper Reforma quoted Pemex today in saying that the new field is located off the coast of Campeche state and is believed to contain an estimated 900 million bbl of oil, making it one of the most important discoveries in Mexico in a decade.
Pemex is reported to have indicated that the new field, which has not been named as yet, could be developed quickly to bring it on production in about two years at a start-up rate of around 150,000 b/d - output that is sorely needed to compensate for some of the dwindling production from Mexican fields over the past few years. It is thought it may be able to make up for about a third of the production losses.
The new discovery, adjacent to the Sihil Field not far from the giant Cantarell Field, is said to be an extensive reservoir containing sweet, light crude oil.
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