Mexico President Calderón announces first PEMEX deepwater Gulf of Mexico oil discovery; preliminary indication of 350M barrels oil equivalent
29 August 2012
Mexico President Felipe Calderon today announced PEMEX’ first oil discovery in the deepwater Gulf of Mexico. The state-owned company’s Trion 1 well, 177 km off the coast of Tamaulipas, confirmed the presence of light oil reservoirs in the province of the Perdido fold belt.
The well, located 39 km. south of the border territory with the US (earlier post), was drilled to 2,500 meters (8,202 feet) water depth and current depth of 4.5 kilometers (2.8 miles), including seafloor crust. The well drilling began last June with the sixth-generation platform Bicentennial, built in Korea.
The total thickness of the pay is 320 meters, with a porosity of 18-25% and a permeability of 250 milidarcys—sufficient to ensure productivity with an estimated flow of up to 10,000 barrels a day.
Preliminary evaluation allows for an average range of 3P reserves (proved, probable and possible) of 350 million barrels of oil equivalent. PEMEX said that the find gives more certainty to prospective resources in the Perdido Area project, estimated at up to 10 billion barrels of oil equivalent, which would allow Mexico to increase oil production in the medium- and long-term.
PEMEX will continue evaluating deeper objectives.
Woo hoo, lets see US uses 19 million barrels of oil a day, so this would last... 18 days.
The 10 billion is a little better, but it's still less than 2 years. (not exactly long-term as the article says).
Of course I do understand we don't use all the oil from one source.
Posted by: Eletruk | 29 August 2012 at 05:32 PM
Shale Oil may provide a larger share of USA's oil in the not too distant future specially if price keeps over $100/barrel.
Posted by: HarveyD | 30 August 2012 at 10:07 AM