Pemex makes onshore oil discovery near Veracruz

Mexico’s state-owned Petroleos Mexicanos (Pemex) has discovered what President Enrique Pena Nieto has called the “most important onshore discovery” made by the company in 15 years.

Mexico’s state-owned Petroleos Mexicanos (Pemex) has discovered what President Enrique Pena Nieto has called the “most important onshore discovery” made by the company in 15 years.

The Ixachi-1 well was drilled 72 km south of the port of Veracruz, close to Cosamaloapan. Pemex is reporting the discovery could contain as much as 350 million boe, with total reserves-in-place equal to the recent offshore Zama-1 discovery (OGJ Online, July 12, 2017).

Pemex has not reported production test or geological data for the discovery.

The well is close to existing systems, which could lead to extending the initial estimate, Pemex said.

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