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Pemex to invest over US$1bn in Tupilco Profundo field

Bnamericas
Pemex to invest over US$1bn in Tupilco Profundo field

Mexican oil and gas giant Pemex will invest US$1.1bn through 2046 in the Tupilco Profundo onshore field in Tabasco state’s Comalcalco municipality.

At an ordinary session on Thursday, sector regulator CNH approved the development plan presented by the national oil company’s E&P unit PEP to extract around 117Mb (million barrels) of oil and 124Bf3 (billion cubic feet) of gas. 

Pemex plans to invest in three new wells, 12 ducts and make more than 1,000 minor repairs, in addition to new installations. 

The approval of the plan follows CNH's granting of a third and last extension in October to continue early production without a development plan.

Tupilco is among the country’s most promising fields and ranks fourth among the biggest producing fields. Pemex’s AE-0140-2M-Comalcalco contract went into effect in 2019, with the license covering 31km2 within the Tupilco field being valid for 30 years.

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