Depletion in Mexico

on Sep 11 in Uncategorized tagged by Trevor Hicks

I’m posting this as one more bit of context for the recent BP discovery in the Gulf of Mexico. Production from Mexico’s super giant Cantarell field continues to plummet.  The decline in this one field in 2009 from well over 800,000 barrels per day to a bit under 600,000 barrels per day is about what Tiber is expected to produce at peak output. Depending on how the other fields in Mexico play out and how rapidly its internal consumption of oil grows, Mexico may not be a net exporter of oil for more than about 5 years from now.

Cantarrell oil production

Cantarrell oil production. Source: theoildrum.com

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