Building a world of
resilient communities.

MAIN LIST

 

Mexico's Cantarell field decline deferred to 2006

The head of exploration and production at Mexican state oil monopoly Petroleos Mexicanos, or Pemex, said Thursday that the decline of the country's biggest oil field has been delayed until 2006.

Pemex formally inaugurated Thursday a new offshore gas compression plant and a new gas processing plant in the Akal complex in Cantarell, Pemex's largest oil field.

Luis Ramirez Corzo, who heads Pemex's exploration and production division, said the two new platforms will obviate the need to send 900 million cubic feet a day of natural gas ashore for processing, only to be sent back as fuel for offshore operations and for re-injection into the deposits.

Pemex raised output at Cantarell with a $10.5 billion, 15-year project begun in 1997 under which it is injecting 1.2 billion cubic feet a day of compressed nitrogen into the deposit to reverse pressure loss.

Cantarell supplies about two thirds of Mexico's 3.4 million barrels a day in crude oil output, producing 2.2 million barrels a day of heavy crude.

Ramirez said Thursday that the decline in Cantarell, originally expected last year, has been delayed until 2006, when the deposits are expected to begin declining at a rate of 14% a year.

Among projects that Pemex hopes will substitute Cantarell production are Ku-Maloob-Zaap, light crude deposits off the coast of Tabasco state, and a project called Golpe Puerto Ceiba that recently began producing, Ramirez added.

The head of exploration and production at Mexican state oil monopoly Petroleos Mexicanos, or Pemex, said Thursday that the decline of the country's biggest oil field has been delayed until 2006.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.


Higher-risk 'Shallow Fracking' More Common than Suspected: Study

The fracking of oil and gas less than a mile from aquifers or the Earth's …

Shale Gas Reality Check

Recently, the EIA released its Annual Energy Outlook 2015 and so we asked …

The Community Energy Revolution

Impact investing is investing to achieve a return in something you also …

Peak Oil Review - July 27

A weekly review including Oil and the Global Economy, The Middle East & …

Energy Crunch - Green taxes: love or hate?

Green taxes have been under attack on all fronts lately.

Nine Reasons Why Low Oil Prices May “Morph” Into Something Much Worse

Why are commodity prices, including oil prices, lagging? Ultimately, the …

Peak Oil Review - July 23

As prices continue to fall, concerns are increasing on Wall Street as to the …