Hitor Group: Fall in Mexican Oil Production Prompts Exploration. Slump in Mexican oil production prompts move to increase exploratory drilling say Hitor Group.
According to a recent report by Hitor Group, in an attempt to offset waning output at many of its current well, Mexico is planning to increase oil exploration in a group of states near the Gulf of Mexico.
According to rumours emanating from within the ranks of Hitor Group, Petroleos Mexicanos which is a state-run oil company is in search of companies to design oil wells and supervise exploratory drilling. It is said that a contract for the desired services would run for 2 years and begin as soon as November of this year.
A study by Hitor Group revealed that Mexican oil production fell almost 10% in 2008. It is believed that this drop in production may be prompting the Mexican Oil company’s move to increase its exploratory drilling.
A spokesperson for Hitor Group apparently stated that the southern region of Mexico currently has a large amount of drilling activity, with the proposed goal of discovering new reservoirs as well as developing existing ones.
The report by Hitor Group also revealed that Pemex of Mexico is planning on a further 18 exploration wells in the next 18 months, a drastic increase compared to the mere 3 wells last year.
The report by Hitor Group also revealed that Pemex of Mexico is planning on a further 18 exploration wells in the next 18 months, a drastic increase compared to the mere 3 wells last year.
