Mexico | Pemex’s production target more dependent on the new fields

Summary

The new fields will have to produce an average of 428 thousand barrels a day in the second half of 2022 to make it possible for Pemex to reach its production target of 1.830 million barrels a day.

Key points

• Key points:
• This oil production figure of the new fields would take their annual average production to 389 thousand barrels a day, representing a yearly increment of 167 thousand barrels a day.
• Given a prediction of an annual oil production increase of 74 thousand barrels a day in 2022, the new fields would be compensating a drop of 93 thousand barrels a day from the production of mature fields.
• Boosted by higher prices of crude oil and refined products, Pemex’s export and domestic sales posted an annual increase of 88.5% and 89.2% in the second quarter of 2022, respectively.

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