Pemex invested 88.8% in exploration and production in 2H20
Pemex allocated 88.8% of its total investments to exploration and production in the second half of 2020.
In general, the company invested 73,085.5 million pesos in that period, of which 64,891.1 million were channeled to exploration and production.
Investment programs and projects are classified according to the Guidelines for the Preparation and Presentation of Cost and Benefit Analysis of Investment Programs and Projects published in the Official Gazette of the Federation on December 30, 2013, which is used in Volume VIII of the Expenditure Budget of the Federation for Fiscal Year 2020.
Among the classifications are: Economic Infrastructure, Maintenance, Acquisitions, Pre-investment studies, Other programs and Other investment projects, among others.
Both the investments of Pemex and its Subsidiary Productive Companies (EPS) were made in various projects according to the schedule of the approved budget versions of programmable physical investment expense for the period in question.
Pemex
Indeed, the distribution of the square resources invested during the second half of 2020 according to their classification is shown in the following table:
The highest percentage of investment was allocated to projects classified as Economic Infrastructure, representing 89.7% of investments, which were assigned mainly to the construction and acquisition of assets for the production of goods and services, as well as their modernization, modification, replacement. and optimization, in order to increase the useful life or original capacity of the assets.
Likewise, the distribution of the Economic Infrastructure projects, among the different Pemex Subsidiary Productive Companies, is mostly concentrated in Pemex Exploration and Production (PEP) with 98.9 percent.
The foregoing shows that the resources have been used mainly to finance exploration and production projects, considering that they are strategic projects that allow establishing the crude production platform, as well as restoring the company’s hydrocarbon reserves.
