Pemex finds oil in deep waters of Gulf of Mexico

Mexican state oil company Pemex has made a new light crude oil find in the Gulf of Mexico, President Felipe Calderon said on Wednesday, the first such discovery in the country's push to exploit deep water deposits and boost output.

However, Calderon did not quantify expected production from the new well, Trion 1, off the coast of Tamaulipas state in northern Mexico.

But he added that Pemex expects to certify new proven, probable and possible reserves of 400 million barrels of crude from the new find.



Source: Reuters