The share of discovered oil reserves held by private companies in Mexico has risen

According to BNAmericas, private upstream companies already account for 12.7% of Proven and Probable reserves in Mexico. According to data from the Mexican Petroleum Administration (CNH), the share of private companies in the country's oil reserves increased significantly at the end of last year, with Fieldwood Energy (4.7%), Hokchi (1.2%) and DWF (1.0%) leading the way. New fields increased as a percentage of the country's 2P reserves, with Pemex's xachi (8% of total reserves) leading the way, followed by the company's Ayatsil (7%) and Quesqui (4%). In terms of reserves, the largest field discovered by private companies is lchakil (4%), followed by Zama (3%). CNH data show that Mexico has begun to reverse the trend of declining reserves. The country's combined 3P reserves, or proven, estimated and estimated (Possilbe) reserves, increased by 5% in the first quarter of 2023, The reason is the growth of reserves in Zama, Tupilco Profundo, Yaxche and lchalkil, said Hector Morelra Rodriguez, CNH commissioner. The impact of rising oil prices on the growth of reserves in one-nation countries is relatively delayed, because the growth of reserves depends on investment by companies in exploration. With more planned exploration activities to be carried out in the coming months, overall reserves are expected to grow in 2023 and 2024, CNH also approved Pemex subsidiary PEP's onshore well in Escuintle, Tabasco state, at a recent thematic meeting, the company said. It will invest $44 million to drill for 100 days and start drilling in late May.