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Pemex doubles Ixachi reserve estimate to 1bn bl

Pemex more than doubled the estimated reserves in its recently discovered onshore Ixachi field in Veracruz to 1bn bl of oil equivalent.

Pemex doubles Ixachi reserve estimate to 1bn bl Pemex doubles Ixachi reserve estimate to 1bn bl

Mexico, 28 November - Neftegaz.RU. Pemex more than doubled the estimated reserves in its recently discovered onshore Ixachi field in Veracruz to 1bn bl of oil equivalent.

The company reported this on November 27, 2018.

 

"This is the most important discovery in Mexico in the last 25 years," said Antonio Escalera, Pemex's director of reserves, during an event in Mexico City today.

The Ixachi field, 72 km south of Veracruz port, was discovered in November 2017.

Pemex initially pegged 3P reserves at 366 mn boe.

 

But following delimitation work carried out this year, including the termination of 2 new wells (Ixachi-1DEL and Ixachi-1001) at a depth of 7,500 m, the deposit was found to be larger than expected at 50 km2 with a 1,200m hydrocarbon column.

Pemex expects the field to produce 80,000 b/d of condensates (above 40o API) and more than 720mn cf/d of natural gas once production starts in 2022.

 

The first well, Ixachi 1, is currently producing 2,000 b/d of condensates and 10mn cf/d of natural gas.

Development of the field, expected to cost 1.5 bn USD, would include the drilling of 40 new development wells.

"This is a great platform from which to start the new administration, allowing Pemex to stabilize production," said Pemex chief executive Carlos Trevino.

 

To read this news in Russian.

 

Source : Neftegaz.RU