Pemex to inject $3bn in Bay of Campeche

Mexico cash injection: Pemex said it planned to invest almost $3 billion in the Bay of Campeche this year

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Tom Darin Liskey

 13 March 2013 03:15 GMT

Mexican oil company Pemex said today that it will invest nearly $3 billion in the oil-rich Bay of Campeche this year as the company moves to tap profitable hydrocarbon deposits and boost production.

Pemex said its investment outlay for 2013 called for drilling and completing 19 wells. Seven of them will be in the Abkatun-Pol-Chuc asset off southern Mexico. The balance of that well drilling programme will be in the famed Litoral de Tabasco.

Pemex said the new wells in the Bay of Campeche would allow it to pump an additional 35,000 barrels of oil per day.

The company said its broader production target for the region this year is to harvest about 596,000 bpd and some 1.27 billion cubic feet of gas per day.…

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