PEMEX makes plans for 2009

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Looking further into 2009, Mexican state oil company Petroleos Mexicanos (PEMEX) has set an average crude oil production goal of 2,750 million b/d and an average natural gas production goal of 6,450 MMcf/d. The company plans to invest around 208.1 billion pesos (US$13.6 billion) into exploration and production in 2009, 87 percent of its total investment and a 17 percent increase over 2008.

In the Cantarell field, the company plans to drill 16 wells, perform 51 major workovers and 27 minor workovers, install dehydrating and desalinization equipment and construct three platforms to drill additional wells. In the Ku-Maloob-Zaap field, PEMEX plans to complete 15 development wells and perform five major and 36 minor workovers. In addition to this offshore work, PEMEX intends to drill over 1,000 wells and perform over 700 wells in onshore regions, primarily Chicontopec.

The company's crude oil production decreased 9.2 percent to 2.8 million b/d in 2008, though natural has production increased 14.2 percent to 6,9219 MMcf/d.

PEMEX acquired 5,315 square kilometers (2,052 sq miles) of 2D seismic and 4,276 square kilometers (1,651 sq miles) of 3D seismic data during the fourth quarter of 2008. Much of the 2D seismic data was the result of the Area Perdido project. This surveyed the deepwater Perdido area on Mexico's maritime border with the U.S. and the Golfo de México B area in the southwest marine basin. Some of the 3D seismic data also corresponded to the Perdido area.

During the fourth quarter, PEMEX completed 186 development wells and 22 exploration wells. Many of the development wells were onshore in the Chicontopec region, which PEMEX hopes will boost its production as oil production from the Cantarell field falls.

Offshore, PEMEX completed five development wells, 12 major workovers and seven minor workovers in the Cantarell field in the fourth quarter. Three development wells, four major workovers and 62 minor workovers were completed in the Ku-Maloob Zaap area.

PEMEX reported four major discoveries in its Litoral de Tabasco area of the Gulf of Mexico in the fourth quarter of 2008. The discoveries include Tsimin-1, Xanab-DL1 Yaxche-DL1 and Tecoalli-1. These discoveries initially produced 4,400 b/d of gas and condensates, 9,200 b/d of light crude, 2,000 b/d of light crude and 4,400 b/d of light crude, respectively.