PEMEX Surpasses the Oil Production Barrier of One Million 800 Thousand Barrels

Source Press Release
Company Pemex 
Tags Production/Development, Upstream Activities
Date January 29, 2023
  • With preliminary figures as of January 29, oil production averages one million 870 thousand barrels per day

So far in January, Petróleos Mexicanos (PEMEX) continues to exceed the oil production barrier of one million 800 thousand barrels, registering in the period from January 1 to 29, 2023 a volume produced of one million 870 thousand daily barrels.

Already last December there had been a considerable increase in production, exceeding the goal of one million 800 thousand barrels. But it was in the month of January of this year that this goal was widely exceeded, with the entry into production of important producing wells belonging to the new oil fields, mainly Quesqui and Tupilco.

PEMEX changed the course of the investment strategy that the institution followed in past administrations. Since December 2018, it has concentrated on directing and focusing its investment resources in areas where it had experience and competitive advantages: exploring on land and in shallow water areas that had a high probability of finding oil and that also have important developed infrastructure.

The change in strategy was successful. In just a couple of years, PEMEX technicians made important discoveries of oil deposits, including the Quesqui and Tupilco fields.  

Another change in strategy was to speed up the development of these discoveries. In record time, the development of these new fields has been achieved to achieve the extraction of oil from these deposits, in addition to using existing infrastructure that has allowed lower investment costs.

As of January 2023As of January 2023, the production of the new oil fields stands at 510,000 barrels per day, which has made it possible to offset the decline in production of the mature fields.

In the coming weeks, PEMEX will be incorporating more production wells, which are in the final phase of drilling, thus guaranteeing the continuity of the growth path of oil production.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd