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News // Oil and gas worldwide

Mexico-US Border Oil Fields To Be Discussed

19 January 2009 , 10:05Ksenia Kochneva620
Kessel said Mexico has presented a formal proposal to negotiate "efficient and fair development of these types of reservoirs."

State-run Petroleos Mexicanos thinks at least two deepwater oil fields stretch from the U.S. into Mexico.

One is the Trident field where Chevron Corp. has a development lease; the other is Hammerhead, where Stone Energy Corp. has a lease. Neither field is currently producing oil.

If production starts in the U.S. first, oil could move from Mexico into wells on the U.S. side, a process known as drainage.

Pemex does not currently have the technology to drill in waters as deep as where Trident and Hammerhead are located, and does not expect to get a platform capable of drilling in 10,000 feet of water until late 2010.

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