2012 Forecast: Mexico strives to increase output ///

At the end of 2011, Mexico, through state oil company Pemex, was the world’s seventh-largest crude oil producer and among the 15 largest natural gas producers. Crude and condensate output last year averaged 2.597 MMbpd, down 1.6% from 2010’s figure. During 2011, 1,132 wells were drilled. The forecast calls for a 1.6% increase to 1,150 wells this year. Pemex’s major crude oil production and drilling takes place in the Chicontepec, Cantarell and Ku-Maloob- Zaap regions. Regarding natural gas, the major regions are Cantarell, Crudo Ligero Marino, Burgos and Veracruz. Virtually all natural gas activity is onshore.

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