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Mexico makes new deep water oil find

10-06-2012 04:31 BJT

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Mexican President Felipe Calderon has announced a second deep water find of crude oil in the Gulf of Mexico.

The latest discovery is 250 kilometers east of Mata' moros in Mexico’s north-eastern state of Tamau'lipas. It is roughly 4 kilometers below sea level and just over one kilometer beneath the sea bed. Calderon says the estimated reserves of the well are between 75 million and 125 million barrels of crude.

The find follows an announcement by Calderon on August the 29th of the country’s first deep water crude discovery. Until this year, Mexico’s state-owned petroleum company, Pemex, had only found commercial quantities of natural gas in the Gulf of Mexico. Calderon says the finds show that Pemex is in better shape now, than when he first took office in late 2006.


Editor:Zhang Dan |Source:

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