Mexico’s Pemex Sees 2006 Oil Output Steady To Higher

Mexican state oil monopoly Petroleos Mexicanos (PEM.YY) said Wednesday it expects to produce slightly more oil next year, even as output at its biggest field declines.

In a conference call with investors, Carlos Morales, head of exploration and production at Pemex, said projects other than the company’s massive Cantarell field should boost production by 85,000 barrels a day in 2006.

Pemex is one of the world’s biggest oil producers and a top supplier of crude to the U.S.

The company pumped about 3.4 million barrels a day of crude during the April-June period. Cantarell accounted for 2.08 million b/d of Pemex’s production in the quarter, down from 2.14 million b/d in the same three-month period of 2004.
Schlumberger