Lozada says Pemex will invest $6billion in Cantarell

July 2, 2014

PEMEX's Cantarell Administrator, Miguel Ángel Lozada Aguilar, said yesterday that the company will invest $6 billion in 2017 in order to  maintain current production levels at the Cantarell field over the next decade, according to Reuters. Lozada Aguilar has already successfully introduced EOR technologies at the offshore field.

The company hopes that the investment will facilitate secondary recovery operations that may lead to an additional 100,000 bbl/yr over a 10-year period, making up for the field's natural production decline.

Lozada told Reuters that Pemex plans to stabilize Akal, Cantarell's most productive field. "By doing this we can make sure that Akal's output will remain steady at between 180,000 and 200,000 b/d for a longer period of time." In May, the Akal field produced about 189,000 b/d.

In 2013, Cantarell produced 440,000 b/d of crude, down from its 2004 peak of 2.1 MMbo/d.

Cantarell is now Mexico's second-highest producing oil field, after the Ku Maloob Zaap field (also in the Bay of Campeche), which produces roughly 850,000 bd.

Read more:

Pemex to invest billions in Cantarell



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