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Mexico's Pemex makes offshore crude discoveries

Wednesday, September 14, 2016

Mexican state oil company Pemex said it made several light crude-oil discoveries in the Gulf of Mexico, which could contain reserves of about 200 million barrels of crude-oil equivalent.

The discoveries include two deposits of extra light crude under 3,000 meters of water off the coast of Tamaulipas state in the Perdido Fold Belt, which contain estimated total reserves between 140 million and 160 million barrels of oil equivalent and eventually produce around 15,000 barrels a day, Pemex said.

Source: Wall Street Journal