Petróleos Mexicanos (Pemex), Mexico’s state-owned oil and gas company, plans to restart production after a six-year suspension at its Lakach deepwater gas field off the coast of Veracruz. Pemex has signed a letter of intent to work with New Fortress Energy on the project. According to a statement from the company, the field has a reserve of 900bn cubic feet.
Pemex CEO Octavio Romero Oropeza said on July 1 that, “with the collaboration of the entities and regulatory bodies of the federal government, this project will finally start production in July 2023.”
Romero Oropeza noted that $1.5bn will be invested in the project. This follows a previous $1.4bn investment that led to “null results,” according to the company’s statement.
