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Grijalva output set to fall after peaking

Mexico's Delta del Grijalva oil project has reached peak production and will see output begin to decline in 2013, a Pemex executive said.

Grijalva, which has nine separate oilfields on land, hit a record output of 100,836 barrels per day of light crude in April.

Jose Serrano, a Pemex exploration and production executive for the southern region, said production will stay at around 105,000 barrels per day for the next four years and then start fading, said a Dow Jones Newswire report.

Serrano said the Grijalva zone has 260 million barrels of remaining oil reserves.

Mexican output has fallen by a fifth since peaking in 2004, and Pemex is struggling to find and develop new oilfields to replace those that are running dry.

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