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 News Around the Republic of Mexico | October 2007 
Mexico Willing to Reexplore Abandoned Oil Fields
 Prensa Latina
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| | The main project is the so-called Poza Rica, in the states of Veracruz and Hidalgo. |
Mexico is willing to reexplore some 15 oil fields that were abandoned over 20 years ago, the state-owned company Petroleos Mexicanos (PEMEX) announced on Thursday.
The studies to take that action, which evidently have a lot to do with high oil prices on the international market, go as planned regarding economic estimates.
The company pointed out that the main goal is to recover oil reserves by reactivating abandoned basins using the technology available.
The main project is the so-called Poza Rica, in the states of Veracruz and Hidalgo, which must have recovered more than 28 percent of its reserves, according to experts.
The cost to produce oil in Mexican mature fields where recovery does not exceed 35 percent is 11-13 dollars per barrel, according to experts.
It would be an advantage to carry out that work, because exploration expenses are lower and estimates show that in some zones production can reach an average of 40 percent. |
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