Mexico reserves fell by 11.3pc in 2014
OREANDA-NEWS. July 06, 2015. Mexico's proven, probable and possible reserves (3P) sank by 11.3pc to 37.404bn bl of oil equivalent (boe) in 2014, reaching their lowest level in at least a dozen years.
Data from the oil regulator CNH shows that Mexico's 2P reserves fell by 7.4pc to 22.983bn boe last year.
In March, the CNH reported a 3.1pc decline in proven (1P) reserves to 13.017bn boe.
Crude 2P reserves fell 6.4pc from 17.612bn to 16.475bn, while 3P reserves lost almost 12pc, down to 25.825bn.
Proven and probable natural gas reserves decreased by 8pc apiece to 30.606 Tcf and 54.889 Tcf, respectively.
Pemex is currently the only firm able to exploit Mexico's reserves, but a landmark energy reform broke its 75-year-old monopoly, opening the market to outside investment.
A first-ever, staggered licensing round that kicked off last December will come together when the first winning bidders for 14 shallow-water exploration blocks are unveiled on 15 July.
A long-awaited tender for deepwater acreage is expected to take place by the end of the month.
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