Ku-Maloob-Zaap is Pemex’s main asset of at present, as it is producing more than 800mbd. Pemex plans to make investments and maintenance work to leverage this important block. The company announced a temporary reduction in production in this area.
Pemex continues to reduce its budget to invest in exploration and production, the key activity to increase its metrics. The company reduced the resources destined to exploration, production and industrial transformation.
Pemex’s CEO, Jose Antonio González, talked about the company’s current situation, politics, corruption and what can be done to improve the financial situation of the firm.
Pemex main strategy, to solve its financial and operational problems, is partnering with private companies. The NOC announced new farm-outs to explore and produce oil in Mexico and several firms are interested.
As a result of Hurricane Harvey, Pemex Industrial Transformation (PTRI) requested a 20% reduction in natural gas consumption to its customers, “due to force majeure.”