(Reuters) .- Pemex plans to reopen old wells in an attempt to extract more barrels to boost the declining production, according to two documents and four sources, while fighting to reach an ambitious goal of the government.
Pemex said in a recent presentation to the United States Stock Exchange and Securities Commission that expects production to fall to 1.58 million barrels per day (BPD) this year instead of the 1.8 million BPD that officials have constantly promoted.
Ángel Cid Munguía, new head of the company’s exploration and production area, wrote in an internal document, dated May 6, which was advancing with the “reactivation of closed wells”, although it did not give more details about the figure.
Lee: Pemex reports duct leaks that goes to two mouth maritime terminal
The details would depend so much on the risk profiles of the thousands of wells throughout the country, both on land and on the high seas, and which could increase production most quickly, four sources familiar with the plans told Reuters.
Pemex did not immediately respond to a request for comments.
Mexico has more than 31,000 wells, both terrestrial and marine, and approximately one third of them are closed, according to data shared with Reuters. More than 4,800 wells are considered operational for hydrocarbon production.
The reactivation depends on the geological information, the financing, the mechanics of the wells and the recovery factor of each well, said one of the fountains, who has studied in detail the closed wells.
Lee: Pemex expects to produce 1.58 million barrels of oil per day in 2025, less than the current
The documents lacked details about which exact technology would be used to reactivate old wells, but companies that operate in other mature fields around the world have used expensive and specialized equipment to continue removing hydrocarbons products to the surface even when production slows down.
Little text and great information in our X (formerly Twitter), follow us!
