Pemex discovers 1Bb oil field in Gulf of Mexico - report
Mexico's state oil firm Pemex discovered an oil field in the Gulf of Mexico with potential reserves of 1Bb, according to local media.
The site is part of the Tsimin-Xux oil field, located 15km offshore from Frontera port in Tabasco state, and covers 49.8km2, Pemex Exploración y Producción (PEP) director Gustavo Hernández García was quoted by local daily Excélsior as saying.
The Tsimin-Xux super-light crude oil basin was discovered by Pemex in 2010.
The oil field has the potential to produce 1Bb of crude oil, in addition to the 100,000b/d currently extracted from the area, he said.
Pemex is hoping the oil field – together with reserves from the Gulf of Mexico's Campeche bay and untapped deepwater deposits – will contribute to reverting the country's declining oil production.
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