PEMEX CEO Sees Cantarell Field Declining 14% Per Year

In testimony before the Energy Committee of the Mexican Senate, PEMEX CEO Luis Ramirez Corzo said that production at the giant Cantarell offshore field will decline by an average of 14% per year between 2007 and 2015. The Cantarell complex currently produces about 1.8 million barrels of oil per day (bpd)