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PEMEX surpasses the oil production barrier reaching 1.8 million barrels

29/01/2023 | 2

  • ​According to preliminary figures as of January 29th, oil production averages 1,870,000 barrels per day

As of January, Petróleos Mexicanos (PEMEX) continues to surpass the oil production barrier of 1.8 million barrels, having registered a production volume of 1.87 million barrels per day during the period from January 1 to 29, 2023.

A considerable increase in production had already been recorded last December, when production reached the goal of 1.8 million barrels. But it was in January this year that this goal was greatly surpassed, after important producing wells belonging to the new oil fields, mainly Quesqui and Tupilco, came into production.

PEMEX: Fourth consecutive year of oil production growth 
(thousands of barrels per day)*


PEMEX changed the course of the investment strategy followed by the institution in past administrations. Since December 2018, the company has been concentrating on directing and focusing its investment resources on areas where it had experience and competitive advantages: exploring in onshore and in shallow water areas with a high probability of finding oil and which also have an important and developed infrastructure.

The change in strategy proved successful. In just two years, PEMEX technicians made important oil field discoveries, including the Quesqui and Tupilco fields.

Another change in strategy involved expediting the development of these discoveries. The development of these new fields has been achieved in record time to extract oil from these deposits, in addition to using existing infrastructure, which has made it possible to lower investment costs.

As of January 2023, production from the new oil fields stands at 510,000 barrels per day, which has allowed us to offset the decline in production from mature fields.

Contribution of the new developments to reverse the declining 
trend of mature fields

Over the next few weeks PEMEX will be incorporating more production wells, which are currently at the final drilling phase, thus guaranteeing continuity in the current oil production growth trajectory.

Mentions of Pemex may refer to Petróleos Mexicanos or any of its Subsidiary Productive Companies.
Last Modified 28/03/2023 14:17 Pemex #Production