Located off the coast of Tabasco and Campeche, the three light crude and one heavy crude fields are scheduled to commence production in 16 months.
The company expects to ramp up the production of the fields to 200,000 barrels of crude oil a day and 170 million cubic feet of gas by mid-2018. The fields are one of the major oil and gas finds of Pemex in the last five years.
Pemex CEO Emilio Lozoya said the company will reconsider its production forecasts as a result of the discoveries.
Mexican Energy Minister Pedro Joaquin Coldwellsaid the finds are expected to complement the tenders planned to be issued by the government later this year for 14 oil and gas exploration and production blocks, as they are located in the same area as the new fields.
According to media reports, the new hydrocarbon finds are also expected to boost Mexican Government’s revenue as the third of the federal budget is based on Pemex income.
