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Latino Daily News

Thursday December 1, 2011

Mexico Discovers Deep-Water Natural Gas Deposit in Gulf

Mexico Discovers Deep-Water Natural Gas Deposit in Gulf

Photo: Pemex Find Natural Gas Deposit

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Mexican state energy monopoly Petroleos Mexicanos on Thursday announced the discovery of a deep-water natural gas deposit in the Gulf of Mexico with an estimated 400 billion cubic feet of reserves.

The company said in a statement that the find was made at the Nen 1 exploratory well in the Catemaco fold belt, some 113 kilometers (70 miles) northwest of Coatzacoalcos, Veracruz, and that it shows “the great potential of that region.”

Pemex estimates the new find will yield 27 million cubic feet of natural gas per day.

A total of “three deposits that together represent a net (gas) pay zone of almost 50 meters (165 feet)” were identified, the company said.

Preliminary estimates point to total 3P (proven, probable and possible) gas reserves of 400 billion cubic feet, according to the statement.

Pemex used the Centenario semisubmersible rig to reach the deposit, located in a water depth of 1,493 meters (4,890 feet) and a total depth of 4,350 meters (14,260 feet).

Pemex, the world’s 15th-largest natural gas producer, extracted 1.2 million barrels equivalent of gas per day in 2010.