Mexican oil company Hokchi Energy starts producing hydrocarbons in Tabasco

The Mexican oil company Hokchi Energy , a subsidiary of the Argentinian firm Panamerican Energy , opened the valves of the Hokchi-4 oilfield to kick start the production of hydrocarbons of the field located in shallow waters of the Gulf of Mexico in front of the coasts of the Dos Bocas Port, Tabasco .

The production start-up is part of the Development Plan of the Hokchi oilfield approved by the National Hydrocarbons Commission (CNH) in December 2019 .

After the approval of the Energy Reform , Hokchi Energy became the first private company to perform drilling jobs in shallow waters and to generate the first profits for the Mexican State from a shared production contract in the Gulf of Mexico’s shallow waters.

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Although the company did not release the volumes of the first barrels it will begin to extract, it said that the asset located in the Satellite platform – one of the two platforms in the oilfield – will include two producing wells and two injection wells .

It explained that, through an early production strategy , Hokchi is optimizing the transport infrastructure built so far, in order to take the production of hydrocarbons from this platform to land, in Tabasco’s Paraíso municipality , where crude oil and gas will be separated to then commercialize it in Pemex’s Ceiba Port .

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The investment on the Hokchi oilfield is worth over USD $1 billion that will include the construction of two production platforms (the Satellite and the Central), a processing plant , several pipelines for sea and land transport, a water injection plant , and another one for the production of electricity , among other kinds of infrastructure.

The project has created over 4,500 direct posts and has prioritized the national content in Tabasco , Tampico , and Tamaulipas , where they built two production platforms.

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