Pemex: Mexico increased its 3P oil reserves
Petróleos Mexicanos (Pemex) reported that Mexico has increased 3P oil reserves (probable, probable and possible) in the last three years compared to any of the previous six years.
The proven (1P), probable (2P) and possible (3P) reserves of crude oil, natural gas and other liquids are known as 3P reserves.
Regarding exploration and extraction of hydrocarbons, in 2020 there were significant improvements compared to previous years.
On the one hand, according to Pemex, exploration activity in terrestrial areas and shallow waters was intensified in exports with the aim of increasing the volumes of incorporation of oil and gas reserves in the assignments granted by Pemex to contribute, in lesser times, to the fulfillment of production goals.
This change in strategy, together with secondary recovery studies in the exploration fields, made it possible to reverse the downward trend of recent years by incorporating in 2020 a volume, preliminary and still under review, of 1,600 million barrels of crude oil equivalent. of 3P reserves for discoveries, secondary recovery and for other concepts, 168% higher than the average of 3P reserves incorporated in the period 2013-2018.
Pemex
On the other hand, since 2019 and now also in 2020, it was possible to increase the 1P proven reserves with respect to the previous year’s reserves.
As of January 10, 2020, LP reserves, including those in the evaluation stage, totaled 7.2 billion barrels of crude oil equivalent.
Currently, Pemex indicated, the LP reserves as of January 10, 2021 are in the process of evaluation and certification and it is expected to reach a value of 7.400 million barrels of crude oil, equivalent, which means that the reclassification of reserves in 2020 It was higher than the production of that year, in addition, it will continue with the increasing trend of last year.
Regarding the extraction of hydrocarbons, the actions currently implemented in PEP include: accelerated development of new fields, early production in exploratory wells, immediate attention to operational problems, reduction of times in operational intervention for the reestablishment of wells that operate with the artificial electrocentrifugal pumping system (DEC); as well as well maintenance work, they allowed to contain the declining trend of previous years.
