Publications

Survey of Energy Resources 2007

Crude Oil and Natural Gas Liquids Country Notes

Mexico's massive oil resource base has given rise to one of the world's largest oil industries, centred on the national company Petróleos Mexicanos (Pemex), founded in 1938.

The Mexican WEC Member Committee has reported proved recoverable reserves (at end-2005) of 11 814 million barrels of crude oil and 1 857 million barrels of NGLs, which correspond with the 'proved reserves' given by Pemex in its Informe Estadístico de Labores 2005. Pemex quotes its proved reserves (in terms of millions of barrels), as: crude oil 11 813.8, condensate 537.9 and gas-plant liquids 1 318.8. In addition to these 'proved' oil reserves
(totalling 13 670.5), 'probable' reserves are given as 12 857.2 and 'possible' reserves as 10 907.6.

Within Mexico's total oil reserves of 37.4 billion barrels, the North zone accounts for 39.0%, the Marine Northeast for 38.7%, the South zone for 13.4% and the Marine Southwest for 8.9%. As regards its proved reserves, 69% of the crude oil, 78% of the condensate and 33% of the gas-plant liquids are located in offshore waters.

Commercial oil production began in 1904 and by 1918 the republic was the second largest producer in the world. The discovery and development of oil fields along the eastern coast of the country - in particular, the offshore reservoirs off the coast of the state of Campeche - have brought annual production up to its present level. In 2005 oil output comprised 3 333 tb/d crude oil, 89 tb/d condensate and 338 tb/d gas-plant liquids; exports of crude totalled 1 817 tb/d, of which some 78% was consigned to the USA.