Cantarell Is Not Mexico’s Only Oil Production Problem

Publication date: 2008-08-01
First Published In: Pipeline & Gas Journal
Authors: Jude Clemente

Abstract:

1.5 million barrels per day (bpd), oil from Mexico comprises about 11% of U.S. imports. As a top-three supplier to the U.S., Mexico has been a consistent and reliable source of oil for years. In the first half of this decade, that role increased even further as growing U.S. demand was met
with rising Mexican production.

Since 2005, however, it has been increasingly apparent that Mexico’s largest oil field – Cantarell – is in irreversible decline. Cantarell accounts for 26% of Mexico’s proven reserves and provides more than half of the nation’s oil output. But the field peaked in 2005 at 2.1 million bpd and by 2008 has fallen to only 1.46 million bpd – a decline of 31%.

Published in: Pipeline & Gas Journal, August 2008
Available: See attachment