Mexican oil (Pemex) and the Australian Woodside Energy will develop an oil field in the Gulf of Mexico with an investment of 7,200 million dollarsas reported by the state company on Tuesday.
Pemex announced in a statement that the National Hydrocarbons Commission (CNH) approved the development plan to exploit the Trión field off the coast of Tamaulipas, a border state with the United States.
The State company indicated that it is a non-operating partner with a 40% stake.
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With this project, the proven and probable reserves (of) 478.7 million barrels of crude oil equivalent will be exploited with an investment of 7.2 billion dollars,” Pemex said.
The approved development plan estimates the start of hydrocarbon production from 2028.
The exploitation of the field is part of the energy policy of President Andrés Manuel López Obrador, who has promised that oil production will reach 2 million barrels per day in 2024, above the 1.71 million at the start of his Administration, in December 2018.
López Obrador has affirmed that he will “rescue” the state company, the most indebted oil company in the world.
Pemex profits fell 66.8% year-on-year in the first half of 2023, when it reported a net profit of 4,813 million dollars.
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EFE International news agency based in Madrid and present in more than 110 countries.