Pemex’s refurbishment plan for the Ek-Balam field has been approved by Mexican oil and gas regulators

Pemex announces new discoveries

MEXICO CITY, December 9, 2015 – Pemex announced on Tuesday the discovery of two shallow-water deposits that have production potential of 40,000 barrels of oil per day (bopd). New discoveries made during the second half of 2015 added 180 million barrels of oil equivalent to the company’s P10 reserves.

Pemex said its $2-billion investment this year yielded more than 1 billion barrels of P10 reserves. The reserves replacement ratio of its total reserves is 85%, up from 67% in 2013.


The national oil company, Pemex, currently produces 2.27 million bopd, down from a peak of 3.4 million bopd in 2004.

Mexico’s state energy regulator announced in the beginning of 2015 that the nation’s total reserves were at 37.4 billion barrels of oil equivalent.

The government opened the previously-nationalised hydrocarbons industry to foreign investment in July in an effort to stop declining output and upgrade ageing assets across various sectors of the industry such as plants and refineries.

For more news and features about Mexico, click here.

Read our latest insights on: