Mexico's state-led company said yesterday it had incorporated 1 billion barrels of possible new reserves into its estimates following an exploration programme of 35 billion pesos ($2.05 billion).
Of those volumes 57% corresponds to light crude and condensate, 20% to heavy crude and 23% to non-associated gas. The reserve-replacement ratio was 85% and discovery costs averaged $2 per barrel.
Appraisal work is set to "offer certainty and accelerate the development of discovered fields," the company added.
Pemex
