Mexico’s Pemex Press Release
A quick update to last week’s story about Mexico’s Cantarell super giant oil field peaking. An 8th Dec 2005 press release from Pemex the Mexican national oil industry has confirmed that they expect Cantarell to have peaked and for production to decline from this point forward:
La estimación de nuestros modelos para predecir la producción en 2006, considera todas las actividades relacionadas con la administración del yacimiento junto con datos actualizados acerca del movimiento del contacto gas-aceite a septiembre de este año, e indica que los niveles de producción en el complejo Cantarell para 2006 se ubicarán en 1.905 millones de barriles por día, aproximadamente. Esta magnitud es 6 por ciento inferior respecto a la producción de 2005 de 2.032 millones de barriles por día, y es consistente con las proyecciones previas dadas a conocer por PEMEX. Para los años 2007 y 2008, las producciones estimadas son de 1,683 y 1,430 millones de barriles por día, respectivamente, sujeto a la obtención de los montos de inversión requeridos.
The estimation of our models to predict the production in 2006, considers all the activities related to the administration of the deposit along with data updated about the movement of the contact gas-oil to September of this year, and indicates approximately that the levels of production in the Cantarell complex for 2006 will be located in 1.905 million barrels per day. This magnitude is 6 inferior percents with respect to the production of 2005 of 2,032 million barrels per day, and is consistent with the previous projections presented by PEMEX. For years 2007 and 2008, the considered productions are of 1.683 and 1.430 million barrels per day, respectively, subject to the obtaining of the required amounts of investment.
Translation from Google.
This leaves Cantarell’s extraction rate falling like this over the coming years:
2005 2.032 million barrels per day
2006 1.905 million barrels per day -6.3%
2007 1.683 million barrels per day -12%
2008 1.430 million barrels per day -15%
This post was written by Chris Vernon
This entry was posted on Monday, December 12th, 2005 at 8:18 am and is filed under Hydrocarbon Depletion. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
December 13th, 2005 at 1:54 am
First Burgan and now Cantarell. Those are the worlds second and third largest fields, the two global “queens” (if we consider the whole world a single oil province, stupid I know). The queens are dying. When will the king follow?
This does give me a very bad feeling and I hope Matt Simmons is very wrong.
December 20th, 2005 at 2:22 am
[…] #8220;Burgan” has peaked. Chris over at Vital Trivia has also reported that it seems “Cantarell” has peaked too. So, that’s the 2nd and 3rd largest oil fields in the world, […]