Mexico's PEMEX
Mexico has a long history in the hydrocarbon industry with production beginning in the 1930s. Oil was first discovered in 1939 in the once prolific Cantarell Basin on the Mexican side of the Gulf of Mexico. Crude oil production reached approximately 3.3 mmpd at its peak. Today, crude oil production is in the 2.4 to 2.8 mmpd range (according to company data). The challenge for PEMEX is its key basin is well into its natural decline and is now considered very mature. Enhanced recovery methods utilizing nitrogen are commonplace in the Cantarell basin in order to increase crude flow from existing wells.
What are equally important are the Mexican government's ownership and energy framework policies. Over the decades, the Mexican government ...
Get Investing in Energy: A Primer on the Economics of the Energy Industry now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
