PEMEX Cries out for Investment

Mexico, Jun 19 (Prensa Latina) Mexico s PEMEX oil company needs an annual investment of about 15 billion dollars to prospect for new deepwater oilfields.

The company requires such an investment to be able to maintain a daily production of 3.1 million barrels of oil and six billion cubic feet of gas, the director of the prospecting and production branch, Carlos Morales, said.


The official highlighted at the Energy Security Forum, organized by the Senate, that 60 percent of Mexico s probable reserves are in deep water, with 20 percent of them almost a mile beneath the sea surface.

Morales advocated enlarging the subsidiary s capacity “through third parties.”

Prensa Latina