Pemex will invest US$54.3M to extract unconventional oil in five onshore areas, in Veracruz. The National Hydrocarbons Commission (CNH) authorized it, in an extraordinary session, according to Forbes México.
José Antonio González Anaya, Director of Pemex, recognizes that the new fields’ discovery in the Gulf of Mexico do not solve the difficult financial situation of the company, but he mentioned that it is a beginning to rebuild the firm, according to El Universal.
The state-oil company is facing a difficult financial situation aggravated by the oil crisis of recent years. According to a report in Zocalo, Pemex´s external auditors believe that the oil firm does not have the ability to continue as a business, if the operating losses continues.
The state oil-company has been struggling to stem the production decline. It has been mainly due to the drop of its main blocks, especially Cantarell, which was the most important of Mexico, some years ago.