Pemex Exploration and Production (PEP), a subsidiary of Petroleos Mexicanos (PEMEX), has exercised more than MXN88 billion in various projects of exploration and production (E&P) in the first half of 2009. The company spent this amount in four regions where its production is divided: Northeast and Southwest Marine, as well as South and North regions of Mexico.
The investments are aimed at development of fields, incorporation of reserves, evaluation of potential, well intervention, drilling equipment, modernization and optimization of infrastructure, installation of production equipment, improvement of recovery, definition and characterization of reserves and other projects.
Navy Region Northeast:
In the first six months, this region had an investment budget of MXN24 billion in exploration projects in East Campeche, located in territorial waters and in the Cantarell oil producing fields, and Ek-Balam Ku-Maloob-Zaap.
Hydrocarbon production in this region from January to June 2009, averaged 1,533,000 barrels of oil and 854,000 cubic feet of gas per day.
Navy Region Southwest
In this region, during the first half of the year, brought MXN902.02 million.
The amount carried from January to June 2009, MXN418 million were allocated for development and exploratory wells, $246 million in assistance and maintenance wells, MXN713 million in maintenance facilities, pipeline, safety and ecology, as well as MXN525 million in the construction of facilities, studies, seismic surveys and works of mutual benefit, among other items.
Among the major projects being undertaken at the Navy Region Southwest PEP are Crudo Ligero Marino, B and Gulf of Mexico Coatzacoalcos and the fields producing hydrocarbons Caan, Ixtal Manik, and Chuc Yaxche, among others.
During the first half of 2009, this marine region provided a daily average of 516 thousand barrels of crude oil and 99 thousand million cubic feet of gas per day.
In the period January to June 2009, PEP exerted in this region an investment budget of MXN427 million.
The allotted budget from January to June 2009, MXN161 million were allocated for development and exploratory wells, MXN340 million to interventions and maintaining wells, two thousand MXN358 million in maintenance facilities, pipelines, security and ecology, as well as MXN568 million in the construction of facilities, studies, seismic, asset management, mutual benefit and works of other items.
Hydrocarbon production in the North from January to June 2009, stood at an average of 93,600 barrels of crude oil also in relation to the extraction of gas was 519,002,000 million cubic feet of gas per day.
It is relevant to mention that the recent crude oil production exceeded 100 thousand barrels of oil, a figure that has not been seen since 1992.
PEP had an investment budget of MXN748 million in the first six months of the year.
Of the investment, MXN860 million were allocated for development and exploratory wells, MXN247 million to interventions and maintaining wells, MXN443 million to maintenance facilities, pipeline integrity, safety and ecology to MXN198 million other items.
In the Southern region for the period January to June 2009, there were 485 thousand barrels of crude oil per day and 540 thousand cubic feet of gas per day.