By July 2017 Mexico’s energy sector will receive a large investment as a result of Energy Reform. The money will be directed to electricity, gas pipelines and oil.
Pedro Joaquín Coldwell, secretary of Energy said that the energy sector will receive US$50B.
Pemex reported only fifteen rigs working during 3Q16. Compared to the same period last year, it means a 75% decrease, according to Pemex database. The State-Company used 5 rigs for exploration and 10 to development wells.
The National Hydrocarbons Commission (CNH) approved that the company Seismic Enterprises México to carry out reconnaissance exploration activities in areas bordering the states of Veracruz, Tabasco and Campeche, according to a report in Noticias MVS.
Low oil prices have forced companies to make budget cuts which has seriously affected exploration projects.
According to Economía Hoy, 2.700 mmbbl were discovered worldwide in 2015, this figure is the lowest since 1947. These oil discoveries represented one-tenth of oil found annually on average, since 1960.
The National Hydrocarbons Commission (CNH) has approved 36 permits to explore the Gulf of Mexico, during 2016. According to a report in Milenio, these authorizations belong to 15 oil-companies. They will undertake 2D and 3D seismic studies.
One of the main consequences of the oil crisis is to stop exploring projects. In Mexico, this activity has fallen too much. We set the task of finding out how many rigs are currently working on exploration. Data found is very troubling.
Pemex will start drilling the well bounding Tetlel-DL with the aim to reclassify the possible and probable reserves.
The National Hydrocarbons Commission (CNH) approved the drilling of this well in recent days, after reviewing the application submitted made by Pemex.