Pemex To Invest Combined $283 Million In Uchbal Field

(Energy Analytics Institute, Jared Yamin, 29.Jun.2019) — Mexico’s state oil company Petróleos Mexicanos (Pemex) plans to invest $266 million in development activities related at the Uchbal field, corresponding to its allocation AE-0006-5M-Amoca Yaxché-04, and according to the exploration and production plan approved by Mexico’s National Hydrocarbons Commission (CNH by its Spanish acronym).

In addition, Pemex plans to invest another $16.59 million on maintenance and infrastructure abandonment once wells cease to be functional, reported online media El Financiero.

Pemex expects to recover 15.8 million barrels of oil and 7.2 billion cubic feet of natural gas through the drilling of four wells at the Uchbal Field located in the Southeastern Basins.

This is the seventh development plan from Pemex Exploration and Production (PEP) to be approved by CNH. Pemex has classified 20 fields as priorities in its aim to increase oil production to 2.6 million barrels per day (MMb/d) by 2024, the media reported.

Other field plans approved by CNH include: Ixachi, Cahua, Cheek, Esah, Chocol and Xikin. By 2022, peak production from these six fields plus Uchbal could add almost 200,000 barrels per day of oil production.

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© Energy Analytics Institute (EAI)

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