Fossil Energy – Investment
Mexico’s Pemex plans to invest USD 1.9 billion in increasing production from the Bacab mature offshore field.
This week, the NOC received approval for the initiative from the country’s National Hydrocarbons Commission, or CNH.
The shallow-water Gulf of Mexico field saw production peak in 1993 at 20,000 bopd of oil and 257,683 cubic metres (9.1 mcf) of gas.
Pemex aims to bring output of the field’s heavy crude to 40,000 bopd by mid-2028.
