Two private partners of Mexico's state-run oil company Pemex will invest a ...
MEXICO CITY - Two private partners of Mexico’s state-run oil company Pemex will invest a combined $250 million in two projects over the next four years as they aim to quickly ramp up crude output, according to plans approved on Tuesday.
DEA Deutsche Erdoel holds the partnership rights with Pemex on its Ogarrio block and the development plan approved Tuesday by Mexico’s independent oil regulator calls for fresh investment of $161 million through 2023. The plan sees oil production ramping up to more than 9,000 bpd in 2020 from 5,800 bpd currently and envisions the drilling of four wells this year, along with major repairs scheduled on another four wells.
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