Pemex 2010-24 plan pegs investment at US$22.9bn/y

Thursday, June 3, 2010

Average annual required investment for Mexican state oil giant Pemex's 2010-24 business plan is 369bn pesos (US$22.9bn), according to a company presentation.

Of the 369bn pesos, 289bn pesos is for E&P subsidiary PEP, 68bn pesos for Pemex Refinacion, 7bn pesos for gas and basic petrochemicals subsidiary PGPB and 5bn pesos for petrochemicals subsidiary PPQ.

The goal is to produce 2.7Mb/d oil and 6.3Bf3/d (178Mm3/d) natural gas in 2012, and 3.3Mb/d and 8Bf3/d in 2024.

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In the first quarter, Pemex produced 2.61Mb/d and 6.95Bf3/d, down 1.99% and 1.02% from 1Q09.

For the presentation, in Spanish, go to this link