Chicontepec Formation
| Chicontepec Formation | |
|---|---|
| Country | Hidalgo |
| Operator | Pemex |
| Field history | |
| Discovery | 1926 |
| Production | |
| Estimated oil in place | 139,000 million barrels (~1.90×1010 t) |
| Recoverable oil | 19,000 million barrels (~2.6×109 t) |
The Chicontepec Basin (Chicontepec Formation) is a petroleum system in
extra heavy crude[dubious ], which due to special refining needs is considered unviable at this time. Since that time, tiny amounts of oil have been produced.[1] While the reserves are overwhelmingly extra heavy crude, pockets of lighter tight oil, as well as natural gas, are also found in the basin.[2]
Attempts at increasing output
In March 2006, Mexican President Vicente Fox announced that Pemex would invest US$37.5 billion over the next 20 years on the oil fields of Chicontepec. It was hoped that this will boost output to 1 million barrels per day (160×103 m3/d). Pemex's chief executive estimates that 20,000 wells are to be drilled in order to exploit this field.
Intensive drilling has taken place in Chicontepec in recent years, starting with a contract for 500 new wells offered in December 2008.[3] However, results in terms of output have been disappointing, with the field still yielding a modest 68,000 barrels per day (10,800 m3/d) in May 2012.[4]
See also
References
- ^ About 2500 b/d in 2002 according to Archived 2 May 2006 at the Wayback Machine
- ^ World oil, Nov. 2001 Vol. 222 No 11
- ^ Mexico seeks bids for 500 Chicontepec oil wells
- ^ Fernando Pérez Corona (24 May 2012). "Alcanza Pemex en Chicontepec récord histórico de producción diaria(Spanish". e-consulta.com.