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Mexico to drill new wells in Campeche to stop decreased extraction

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Andres Manuel Lopez Obrador
LatAm   President Andres Manuel Lopez Obrador

The Mexican Government ordered the drilling of new wells in Campeche with the hope of stopping the fall in extraction that has turned the country from a net exporter to a partial importer of hydrocarbons.

The announcement was made by President Andres Manuel Lopez Obrador, who said that he will travel to that state in the Gulf to attend the beginning of the drilling of a battery of wells that should contribute to producing more crude oil.

The president is convinced that it is possible to reverse the crisis so it is necessary to extract more oil with new drilling and reactivate those wells that are declining, but without applying harmful techniques to the environment such as fracking, a practice denounced by environmentalists and scientists.

Lopez Obrador reiterated that in his administration in the next few years, he will not bid for hydrocarbon exploitation contracts, until they show results, because with the energy reform only 2 percent of Petroleos Mexicanos (PEMEX)'s public investment have come from abroad and it has not produced 'a barrel of oil.'

He added, 'We cannot be granting territories for the extraction of hydrocarbons if there is no investment and, most importantly, if there is no production.'

However, he clarified that all 110 contracts awarded in the oil rounds will not be canceled so that there is no distrust.

He made it clear that those who received those contracts must show that they are going to invest and produce oil. Based on the results we have, we will make the corresponding decision. Our commitment is to give a truce of three years for results, because we do not want them to have the concession titles and only to speculate.

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