Mexico's state-owned Pemex oil has announced a major oil discovery in the deep waters of the Gulf of Mexico that Mexican President Felipe Calderon is touting as promising one-third of the country's entire crude oil production.
The deposit is located 180 kilometers east of Mexico's northern state of Tamaulipas, and only about 40 kilometers from its maritime border with the US.
While Pemex insists that Trion will produce some 10,000 barrels of oil per day, and that the entire Perdido Ford Belt under Mexico's control contains as much as 10 billion barrels of crude, there is the tendency to exaggerate for political reasons and these figures cannot be independently confirmed.
Calderon's six-year presidential term ends in December, and the discovery is quite a gift to the incoming president Enrique Pena Nieto and the PRI party.
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com More
Comments
Current global consumption: approximately 91 mb/day
10 billion barrels is approximately 4 months of global supply, assuming that the 10 billion barrel estimate is in any way accurate.
Saludos,
Besides can you invest in Pemex?
This new 10,000 bpd day field will theirfore produce at a rate of less than one half of one percent, or about 200 times less the amount Cantarell produced at. If they had found it 20 years ago they would have ignored it completely but today it equates to 1/3 of all Mexican production reserves. Amazing.
has already won the presidency for the next 6 years.