Pemex postpones plans for Zama field
PEP, the E&P unit of Mexico’s federal oil company Pemex, is reducing its 2024 budget for the promising Zama discovery off Tabasco state from US$1.24bn to US$69.9mn.
During an extraordinary session on Thursday, the hydrocarbons commission (CNH) approved the operator’s request to change its yearly work plan. PEP said it needed to change its engineering designs for infrastructure such as platforms.
“It should be noted that the development plan for the extraction authorized by CNH on June 1, 2023, for the period 2023-2045, contemplates a total investment of US$9bn, which remains valid,” the regulator said in a statement.
Zama is the most promising oilfield discovered by a private company in Mexico since the E&P sector was opened up in 2014. It was discovered by a Talos-led consortium in 2017, but operatorship was given to Pemex after it was found that the field crossed one of the federal oil company’s areas.
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