Pemex Receives Approval to Invest $1.9 Billion in Bacab Offshore Field

January 13, 2025--Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Mexico's National Commission of Hydrocarbons (CNH) has approved Pemex's (Mexico City, Mexico) new business plan to develop the Bacab field in shallow waters about 104 kilometers (65 miles) offshore Campeche state. The new plan contemplates increasing the field's output and investing US$1.86 billion.

The Bacab field began production in 1991, reaching a maximum output of 20,000 barrels per day (BBL/d) of oil in 1993. However, the field has faced the natural decline of its output, reaching volumes of 3,700 BBL/d between January and November last year.