Petróleos Mexicanos (Pemex) has made significant progress in developing the Bakté field in Tabasco. The project has become one of the most important initiatives of the previous administration.
Pemex claims the field’s development has been executed in record time, showcasing the company’s efficiency. Former Pemex Director General Octavio Romero Oropeza highlighted Bakté’s rapid advancement.
He attributed this success to the early production strategy implemented during his tenure. The field’s first crude extraction occurred in April 2023, with substantial production expected within nine months.
Pemex has significantly increased its investment in the Bakté field to $1 billion. This represents an 188% increase from the original budget, demonstrating the company’s commitment to the project.
The state-owned enterprise plans to drill six additional wells in 2024 and incorporate 15 producing wells by 2025. The Bakté field is considered one of the most significant discoveries in recent years.
It boasts estimated reserves of 173 million barrels of crude oil equivalent. The field is crucial for both oil production and strengthening Mexico’s gas output.
A Key Player in Mexico’s Oil Strategy
Pemex expects Bakté to produce 53,270 barrels of condensate and 662.15 million cubic feet of gas daily. The field currently has one producing well and five more in the drilling phase.
In addition, these wells average 6,200 meters in depth, and the team expects to complete them within 100 to 120 days.
The accelerated development of Bakté is part of Pemex‘s broader early production strategy. This approach has led to the development of 54 fields over the past six years.
These fields now contribute over 560,000 barrels daily, accounting for more than a third of Pemex’s total current production. Pemex has significantly reduced field development times from 60 months to just 12 months.
This improvement reflects the success of new practices in Mexico’s national oil industry. The company’s focus on efficiency and rapid development has positioned Bakté as a key asset in its portfolio.
More: Mexico news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. How we use AI · Report an error