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Pemex to control marine exploration

Despite the deregulation of the Mexican fuel market which opened the domestic market to international investment
Pemex to control marine exploration
Photo: File photo/EL UNIVERSAL
28/02/2018
11:05
Noé Cruz Serrano
Mexico City
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Mexican state oil company Petroleos Mexicanos (Pemex) will drill at least 96 exploration wells in the country's marine regions between 2018 and 2021, despite the deregulation of the Mexican fuel market which opened the domestic market to international investment.

In the next four years, Pemex expects to drill 24 exploration wells annually in various marine regions, both alone and in partnership with multinational oil companies (farmouts), according to the weekly statistical analysis of Mexico's National Hydrocarbons Commission (CNH).

Overall, Pemex will drill 52 exploration wells while global players will drill 44 exploration wells, 11 per year3 in shallow waters and 8 in deep waters annually.

However, these figures are “estimations considering that the drilling rhythm of the last seven years could be maintained", highlighted the CNH.

Marine exploration is the highest in the last 30 years and it was made possible with the participation of new operators (44%).

It should be noted that between 2011 and 2017, 105 marine wells were drilled, 14 by private contractors, between 2006 and 2010, 44 marine wells were drilled, between 2001 and 2005 90 were drilled, between 1996 and 2000 only 20, and between1991 to 1995, 45 marine exploration wells were drilled.

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