Project Profile
Location: Southeast basin, Mexico
Reserves: 3P reserves of 183Mb of oil and 512 million cubic feet of gas (156 mcm)
Water Depth: 6,800 metres
Pemex has made a light oil discovery, named Navegante oil discovery, in the onshore southeast basin in Mexico. The Navegante-1 well was drilled to a total depth of 6,800 metres and hit localised light crude of 45 degree API. Navegante-1 is estimated to hold up to 500 million barrels of oil equivalent in proven plus probable plus possible reserves. The find was one of the largest onshore oil discoveries in Mexico in the past 10 years. Pemex\'s crude output in October 2012 fell to about 2.54 million barrels per day, down from roughly 2.56 million bpd in September 2012. The new discovery came to increase the production as it had dipped to its lowest level in three months.
Four wells have been drilled, Navegante-1, 2, 3, and 4 but none of these have yielded production to date.
Operators:
Pemex: Operator with 100% interest