Pemex to start operating nitrogen-injection module at Cantarell oilfield

Jul 24, 2000 02:00 AM

Pemex will start operating the third nitrogen-injection module at its Cantarell offshore oilfield. Pemex expects to extract 8.294 bn barrels of crude using the module over the next 15 years. The quantity is 2.1-times greater than would have been extracted if the field had been allowed to fall into decline.
The present net value of additional production to be secured by the module, "according to conservative estimates," is $ 30 bn, Pemex said. Cantarell is the most important oilfield in Mexico, and is viewed as a strategic investment by the current administration.

Source: NewsEdge Corporation via Newspage
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