Mexico needs investment to avoid losing more gas

Mar 22, 2002 01:00 AM

Mexico not only lacks enough investment to extract the natural gas demanded by its own economy, but is also losing resources because it shares it main geological basin with the United States, said Juan Antonio Barges, undersecretary of Hydrocarbons at the Energy Secretariat.
In other words, the United States is exploiting the gas that is in Mexican subsoil. Of the gas shared by both nations, the state of Texas extracts nearly 100 times more than the states of Nuevo Leon, Tamaulipas and Coahuila.

As a result, Barges said it was necessary to invest heavily in the sector in order to avoid losing more gas. "In the area of Nuevo Leon, Tamaulipas and Coahuila... we are drilling around 240 wells. Over the border in Texas, the Americans are drilling around 20,000 wells into the same geological basin," Barges said.

Source: El Economista
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