Background on Pemex and its Strategic Plan
Petróleos Mexicanos (Pemex), the state-owned petroleum company in Mexico, is led by its Director General, Víctor Rodríguez Padilla. In a recent address to senators and experts at the National Energy Forum held in the Mexican Senate, Rodríguez Padilla clarified Pemex’s strategic approach.
Pemex’s Focus on Conventional Resources
Rodríguez Padilla emphasized that Pemex’s strategic plan, spanning from 2025 to 2035, does not include the exploitation of non-conventional resources or the use of fracking techniques in shale formations.
He explained that the technology surrounding fracking has evolved significantly over the past two decades since its popularization in the United States during the 2000s. Consequently, Pemex focuses on evaluating existing wells rather than adopting fracking methods.
Geological Focus on Specific Regions
The strategic exploration plan clearly outlines a focus on the Southeast Basins, both marine and terrestrial, as well as the Veracruz Basins. Rodríguez Padilla stated that these basins lack significant potential for non-conventional resources.
Therefore, the exploration and production efforts will continue to concentrate on conventional resources. The prospects for exploration in these areas are dwindling, located at greater depths, and thus Pemex’s new direction prioritizes conventional sand reservoirs in more complex geological settings requiring greater investments.
Evaluating Complex Geological Reserves
Pemex’s strategic exploration plan proposes actions to assess the potential for integrating reserves in what are termed “complex geology” reservoirs, which exclude non-conventional or shale resources.
Should these complex geological reservoirs prove viable, their development would require authorization from both internal Pemex organs and federal governmental bodies to proceed.
Key Questions and Answers
- What is Pemex’s stance on fracking and non-conventional resources? Pemex, under Rodríguez Padilla’s leadership, has explicitly stated that it will not engage in fracking or exploit non-conventional resources.
- Which geological regions is Pemex focusing on? The strategic plan prioritizes the Southeast Basins (marine and terrestrial) and Veracruz Basins, which are deemed to have limited potential for non-conventional resources.
- What type of reservoirs is Pemex prioritizing? Despite the challenges posed by complex geological settings, Pemex is focusing on conventional sand reservoirs rather than pursuing non-conventional or shale resources.
- What authorization is needed for developing complex geological reserves? Should complex geological reservoirs prove viable, their development would necessitate approval from both internal Pemex entities and relevant federal government bodies.
