When presenting the sector’s work plan 2024-2030, Pemex director Victor Rodriguez said in a press conference that the company’s goal is to “be able to incorporate more than two billion barrels of oil located underground, ready for the production phase.”
According to him, 269 exploratory wells will be drilled in six strategic projects located in the states of Veracruz, Tabasco, Oaxaca, Chiapas and Campeche and seismic records of 38 thousand kilometers of geological information will be obtained.
As part of the sustainable production axis, the company will generate no more than 1.8 million barrels of liquid hydrocarbons per day in the next five years, for which they will carry out more than two thousand perforations and 1,300 major repairs.
“We are going to have 12 strategic projects that will contribute 61 percent of the production (…); the income that we are going to have with this level of production is more or less five billion pesos (about 243 thousand 200 million dollars),” he pointed out.
On the other hand, the official added, the company will increase the production of natural gas, the most consumed fuel in the country, to five billion cubic feet per day, through more than a thousand perforations and 970 major repairs. Rodríguez referred to an investment of 238 billion pesos (about 11,576 million dollars) and an income of 1.9 trillion pesos (more than 92,420 million dollars).
The company, he added, will make a very important effort to reduce fugitive methane emissions.
Regarding refining, Pemex will focus on the objective of producing gasoline, diesel and jet fuel; he confirmed that there will be no “gasoline price hikes” and the domestic market will be supplied and assured that the price of gasoline will not be higher than 24 pesos (1.17 dollars) per liter.
The executive mentioned that the rehabilitation initiated during the six-year term of former President Andrés Manuel López Obrador (2018-2024) with the country’s historic refineries is being completed, and he announced that the Tula and Salina Cruz projects will enter into operation in 2025 and 2026.
Likewise, he added, the Dos Bocas and Deer Park refineries will reach their maximum capacity.
The company will also increase the production of fertilizers to supply national demand and not depend on imports.
According to Rodríguez, an investment of more than eight billion pesos (389 million dollars) will increase the installed capacity, which will guarantee the production of 1.5 million tons of phosphate fertilizers and 1.6 million tons of urea per year.
The main source of investment in the projects is the resources generated by Pemex itself, said Rodriguez, who highlighted that the company produces between 1.7 and 1.8 million barrels per day and generates around 40 billion dollars annually.
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