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Pemex finds new oil reserves in shallow Gulf of Mexico

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Pemex finds new oil reserves in shallow Gulf of Mexico

Mexico's state-controlled Petróleos Mexicanos SA de CV, or Pemex, confirmed Oct. 9 that it has discovered up to 180 million barrels of oil equivalent in the southeastern Gulf of Mexico of proven, possible and probable reserves.

The company has found light and heavy oil at seven reservoirs in two new wells in Mexico's Southeast Basin, Manik-101A and Mulach-1, at a time when domestic oil and natural gas production had been trending downward.

The combined peak production of six offshore fields that Pemex is evaluating and developing, including Xikin, Esah, Kinbe, Koban, Mulach and Manik, could reach up to 210,000 bbl/d of oil and 350 MMcf/d of natural gas, it said.

Pemex will soon begin developing the Xikin and Esah shallow water fields, both of which were discovered in 2015.