Mexico's Pemex finds shallow water oil fields in southern gulf -WSJ
MEXICO CITY, June 10 (Reuters) - Mexican state oil giant Pemex has discovered new shallow water oil fields in the southern Gulf of Mexico, and sees production reaching 200,000 bpd fairly quickly, the Wall Street Journal reported on Wednesday.
The discoveries were made in four different areas and production could begin in 16 months and reach stable oil output within 20 months, the paper quoted Pemex CEO Emilio Lozoya as saying in an interview.
The total proven, probable and possible reserves of the fields could be as high as 350 million barrels of crude-oil equivalent, Lozoya told the paper. (Reporting by Mexico City Newsroom)
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