Pemex: Looking to the future
Pemex sets goals for next year
State-run Pemex has set its production goal of 2.5 million barrels per day for next year, down from 2.7 million bpd this year, said an advisor to the company.
The company will increase its total operating budget to $19.087 billion from $18.45 billion this year, Jesus Puente Trevino, who advises the company, said at the Deloitte Oil & Gas Conference in Houston today.
Gas production is expected to decline from 6.7 billion cubic feet per day to 6.2 billion cubic feet per day as Pemex re-injects more of the associated gas at Cantarell to boost reservoir pressure at the fading giant.
To make up for Cantarell’s decline, Pemex must focus its efforts on the Chicontepec Field, which Trevino admitted has proven more difficult than anticipated.
“It is a very technical, very difficult place to work,” he said, noting the complex geology and low reservoir pressures in the play.
Trevino said Pemex is currently running 47 rigs at Chicontepec and has 933 operated wells in the field.
