Pemex will invest in mature fields to increase oil production

Pemex through its general director, Octavio Romero Oropeza, presented the program "Opportunities for Investment in Mature Fields: Increase in the recovery factor" with the purpose of reactivating the oil industry and producing more than two million 400 thousand barrels per day at the end of the present six-year term.

In Ciudad del Carmen Campeche, the CEO of Pemex said that there is great potential in mature fields to which the recovery factor will have to be increased. Due to the above, he indicated that work will be done on new co-investment modalities, which seeks to optimize contracting schemes that make feasible the execution of exploration and extraction projects through the participation of private initiative.

He proposed to incorporate into the contracts specific elements such as working with the Ministry of Finance to improve the fiscal regime in these mature fields and set up trusts or segregated accounts to deposit the income separately from the bank accounts of Petróleos Mexicanos.

Also, he said, it is necessary to look for the relationship between tariffs and the price of the Mexican Export Mix to allow the corresponding adjustments as prices change and share the market conditions between Pemex and the service providers.

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