PEMEX assures greater certainty to prospective oil resources in deep water

abarrelfullabarrelfull wrote on 09 Mar 2012 13:27
Tags: mexico pemex upstream

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As a result of exploratory activity in the deepwater Gulf of Mexico in the last five years, Pemex was identified contingent resources of 283 million barrels of oil equivalent (MMboe) and incorporate 3P reserves of 822 at MMboe, which allowed to obtain a discovery cost of 4.7 dollars per barrel of oil equivalent, the lowest in the history of Pemex.

The deepwater exploration is relevant because in this region is about 50 percent of prospective resources of the country, so have taken significant actions to give greater certainty to the volumetric estimation of these resources, without neglecting the exploration in areas of shallow water and land.

Exploration in the Mexican Gulf of Mexico Deepwater began in the early nineties, however, was until 2002 when it carried out a systematic evaluation of petroleum potential and from 2007 were significantly increased investments in exploration in this region of the country.

It should be noted that from 2000 to 2011, Pemex Exploration and Production (PEP) has earmarked about 50 billion pesos in the area, primarily for drilling and seismic studies.

Thus it was possible to acquire more than 100 000 kilometers of 2D seismic and 105 000 700 square kilometers of 3D seismic, which has achieved 75 percent coverage of the priority areas of the Gulf of Mexico Deepwater.

With respect to exploratory drilling in the mentioned period was completed a total of 19 wells, 11 of which were producers and eight of them included or reclassified reserves, geological success of 58 percent and 42 percent commercial.

It is important to note that exploratory activity in the area has given greater certainty to prospective resources associated with this oil province. Proof of this is that from 2007 to 2011, with an investment of 400 million billion dollars in seismic acquisition and studies, PEP was able to reclassify eight thousand 500 MMboe of prospective resources and opportunities associated with finding locations, enabling a cost reclassification $ 0.16 per barrel of oil equivalent.

Thus, to give continuity to the exploratory drilling and comply with the strategy to accelerate the evaluation of the potential of the Gulf of Mexico Deepwater established in the Business Plan of PEMEX, PEP has ensured the availability for the next four years, three rigs sixth generation capable of operating in a water depth of up to three thousand meters and total depth reached 10 thousand to 12 thousand meters.

This year, meeting the environmental and safety regulations, we have considered the drilling of wells Supremus-1, and Maximin Trion-1-1 in water depths greater than two thousand 500 meters.

The strategy favors deepwater exploratory geological provinces likely to contain oil, such as the Perdido Fold Belt and the province of Salina Grande in the north of the Mexican portion of the Gulf of Mexico.

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