MEXICO CITY (Pakistan Point News / Sputnik - 01st November, 2022) The Mexican National Hydrocarbons Commission (CNH) approved a plan for the development of the Lakach deepwater gas field in the Gulf of Mexico submitted by the state-owned oil company Pemex (Petroleos Mexicanos), the Oil and Gas Magazine reported.
Pemex discovered a giant offshore gas field with up to 26 billion cubic meters of gas reserves (918 billion cubic feet) in 2006, but the project was frozen 10 years later due to the complexity of its realization and regulator's position. The company had drilled eight wells and spent about $1.5 billion at the time the project was frozen.
In July, Pemex signed a long-term partnership with the US-based company New Fortress Energy to jointly develop the Lakach gas field. The companies will reactivate existing wells and build platforms, as well as gas pipelines with gas extraction expected to begin in 2023.
The Lakach project is of strategic importance for the Mexican government in terms of ensuring energy sovereignty, as it currently imports up to 70% of natural gas from the United States.
