New plan: Pemex plans to drill 500 new wells in Chicontepec, Mexico
Pemex bit gets busy at Chicontepec
Pemex plans to drill 500 wells this year at Chicontepec, allowing the company to add as much as 150 million barrels of proved oil reserves for each well drilled at the onshore field, Vinicio Suro, managing director of planning and evaluation at Pemex's exploration and production unit, said.
“There's going to be a small jump,” Suro said of incorporating reserves at Chicontepec.
The US Securities & Exchange Commission forced Pemex to remove Chicontepec from its proved reserves in 2002 because the company was not actively drilling in the area, a Bloomberg report said.
Chicontepec is located mostly in the state of Veracruz.
Next year, Pemex plans to drill as many as 1000 wells at Chicontepec, which requires sophisticated horizontal drilling techniques because it consists of the small pockets of oil and is located in densely populated rural areas.
Energy Minister Georgina Kessel has estimated Chicontepec may produce 600,000 barrels per day by 2021.