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Thursday, October 23, 2008

Pemex Enters Gulf Ultra Deepwater in Search of Oil.

Bloomberg, October 22, 2008 - “Petroleos Mexicanos has started seismic studies for oil under seas three times deeper than anything it has drilled, marking its entry into ultra deepwater as it seeks to offset an almost five-year decline in output. Pemex, as the state-owned oil company is known, began laying seismic cables in the Gulf of Mexico on Oct. 18, according to a bulletin on Mexico’s Merchant Marine Web site. The study of the area just west of the Mexican side of the Gulf’s El Perdido Foldbelt will last until April and provide two-dimensional data on deposits in water as deep as 3,500 meters (11,484 feet).” Read more.

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