With the objective of improving prospects for next year, the Mexican company with administrative works for its restructuring and opts to modify its exploration plan regarding Assignment AE-0175-2M-Chuyan, belonging to the state of Veracruz and covering the north of the state of Puebla, such modification derives from the granting of the First Additional Exploration Period (PPAE) and the variation in the number of wells to be drilled, in this way new resources will be incorporated, estimating the investment program in 15.47 million dollars as a base scenario and up to $50.02 million dollars considering the new incremental scenario.
Similar to this, the National Hydrocarbons Commission, likewise approved the extraction development plan related to the Camatl field belonging to the coast of the state of Tabasco, with the purpose of carrying out the following activities; the execution of two drillings with their corresponding completions, two major repairs and 16 minor repairs, thus foreseeing an approximate investment of 331 million dollars, Pemex estimates that the Development Plan will allow reaching a maximum production of 14.4 thousand barrels of oil and 6.9 million cubic feet of gas by 2024, with a hydrocarbon recovery factor of 28% in oil and 27% in gas. This according to information obtained from Oil & Gas Magazine.
And in order to continue reducing expenses, Pemex revealed that so far in the current six-year term, it has eliminated 44 of its subsidiaries, and is in the process of reducing 14 more, leaving only those that, despite their nature, eliminating them generates unnecessary risks for the state-owned company, since they generate profits and have strategic infrastructure for the company.
With almost 400 million dollars to be invested, Pemex finds itself in a scenario in which continuing to generate losses is not an option, and the idea of recovering its commercial value as a company poses increasingly challenging challenges, for which it will have to take care of the bases of its strategies, and define with greater determination and analysis what is feasible for it.
