Mexico eyes deep-water

Production from the giant Cantarell field, in the Bay of Campeche, has peaked at 2m barrels a day (b/d) and is expected to begin to decline in the coming years. Mexican waters remain largely unexplored, as the state-owned oil company, Pemex, does not have access to the technology needed to carry out a deep-water exploration campaign. Pemex has never drilled a producing well in water depths greater than 90 metres and the company freely admits it needs the help of foreign oil companies for the planned exploration campaign. The majors and other companies with experience operating in the US section of Gulf of Mexico (GoM) are watching the situation closely, but Mexican law prohibits foreign comp