Pemex in Joint Venture Talks to Boost Crude Output: CEO
This article is for subscribers only.
Petroleos Mexicanos, the world’s fifth-largest oil producer, will begin its first production joint ventures as early as the end of this year, its chief executive officer said.
Mature fields are the “low hanging fruits” where Pemex, as the state-owned oil company is known, can increase production in the short term, CEO Emilio Lozoya said in an interview. Through new technology and investment, Pemex expects to increase output in mature fields with proven reserves that currently only yield minimal crude, he said.