Mexico’s Calderon Interested In Deep-Water Oil, Ethanol

Felipe Calderon, the winner of Mexico’s presidential vote, said Friday he would continue the country’s efforts to exploit crude oil in deep waters of the Gulf of Mexico, and is also interested in promoting the use of ethanol.

State oil monopoly Petroleos Mexicanos, or Pemex, sees deep-water exploration as the long-term answer to replacing reserves and output, particularly as its main oil-producing field Cantarell has started to decline, and that decline will accelerate in 2007 and 2008.
Schlumberger