Mexico's Pemex crude oil production falls almost 1% in 2011

23 January 2012 21:33  [Source: ICIS news]

BOGOTA (ICIS)--Petroleos Mexicanos’s (Pemex) crude-oil production declined almost 1% in 2011, the state-owned oil company said on Monday.

Pemex produced 2.55m bbl in 2011, down 0.78% from the 2.57m bbl produced in 2010, the company said.

Pemex said the results show that it is "maintaining stable production of crude" and that it has slowed a sharper drop recorded between 2007 and 2009, when production decreased by 475,000 bbl.

The levels for 2011 were due to an increase in production in numerous projects, including Ku-Maloob-Zaap, Crudo Ligero Marino and Ixtal-Manik, which partially offset the decline in the Cantarell field.

Ku-Maloob-Zaap, Crudo Ligero Marino and Ixtal-Manik are offshore production fields in the Bay of Campeche.

Mexican crude production peaked in 2004, when the country produced 3.4m bbl, according to the US Energy Information Administration (EIA).

Mexico is a major non-OPEC oil producer and one of the top three sources of US oil imports, according to the EIA.

By: Leela Landress
+1 713 525 2653

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