The new site, named Dzimpona, is part of the Francisco J Mugica onshore complex, named for a revolutionary who took part in the nationalisation of oil assets in the 1930s. Along with two other reservoirs, Racemona and Valeriana, it has total reserves of 900 million to 1.2 billion barrels of oil equivalent.
By the end of 2023, a total of 65 wells will be drilled at the deposit with annual production put at 138,000 barrels of oil and 1.349 billion cu. ft. of gas, the company said.
By way of comparison, according to the BP Statistical Review of World Energy, Mexico produced a total of 1.92 million barrels of oil and 3.29 billion cu. ft. of gas in 2019.
“Mexico will increase its gas production and start generating 60% of the gas it consumes by 2023,” Global Platts quoted Pemex CEO Octavio Romero Oropeza as saying at a ceremony marking the announcement.
Romero Oropeza, head of Pemex since 2018, said he expected Mexico to produce 4.287 billion cu. ft. of gas a day by 2023.
Bringing the complex on stream will also help reduce Mexico’s dependence on imported oil products.
In January, according to data from Mexico’s Energy Secretariat, the country produced 260,000 barrels of petrol per day while importing 400,000 barrels. The import figure will almost certainly drop as plans call for an oil refinery to come on stream near Dos Bocas, also in Tobasco state.