Manufacturing Industry
MEXICO: Proposed $10,000,000,000 to $12,000,000,000 investment in natural gas exploration and production projects, PETROLEOS MEXICANOS (PEMEX) [Mexico] Order #: 048306.
WWP- Report on Oil Gas & Petrochemicals in the Developing World, April, 2006
PROJECT OVERVIEW:
The local PETROLEOS MEXICANOS (PEMEX) recently budgeted $10,000,000,000 to $12,000,000,000 for oil and gas exploration and production projects during the next few years. According to Luis Ramirez Corzo, Director (PEMEX EXPLORACION Y PRODUCCION) $1,800,000,000 will be committed in 2006 to enable undertaking natural gas and production projects in the state of Veracruz.
The investment is designed to boost production at new discoveries that include Playuela, Copite, Vistoso and Madera. Production output at these sites currently amounts to about 100 million cubic feet per day (Mcfd). PEMEX, for that matter, needs to invest more in exploring new gas discoveries to substitute expensive gas imports, which reached an average of 760 Mcf/d...
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