Slim and AMLO promote investment in Lakach field

Slim and AMLO promote investment in Lakach field
Slim and AMLO promote investment in Lakach field

Carlos Slim and AMLO agree to an investment of 840 million dollars in the Lakach field in deep waters of the Gulf of Mexico, boosting gas production.

Mexican businessman Carlos Slim met with President Andrés Manuel López Obrador to discuss an investment of approximately $840 million in the Lakach gas field, located in deep waters of the Gulf of Mexico. This project would be a collaboration between Grupo Carso and Mexican Petroleum (Pemex).

He Lakach depositlocated more than 1,500 meters deep, has an estimated recoverable gas volume of 847.9 billion cubic feet, with a recovery factor of 64.67%, according to exploration carried out by Pemex since 2006. In addition, it has proven reserves and probable volumes of condensed liquids of high commercial value, greater than 3.5 million barrels.

Pemex has kept the field plugged since 2016 due to the low profitability of gas extraction in that period, influenced by the exploitation of shale in the United States, which kept prices low. Pemex has already invested more than $1 billion in Lakach, and in the case of a partnership, it is possible that the partner will contribute capital while Pemex offers its experience and data from the field.

In 2022, the government announced a partnership with US company New Fortress, which would also build onshore regasification infrastructure. However, this company only established its terminal in Altamira and did not continue the association with Pemex. Now, Grupo Carso’s energy subsidiary could take on the project.

Recently, in September, Talos Energy sold 49.9% of its oil business in Mexico to Zamajal, a Grupo Carso company, for $124.7 million. This transaction included 74.8 million in cash and an additional 49.9 million owed from the first oil production from the Zama megafield, which will begin producing in 2025.

Pemex also has a collaboration with the Australian Woodside in the Trión field, in the Gulf of Mexico, 2,500 meters deep. This project is the first of its kind and is expected to begin oil production in 2028.

This investment and partnership with Grupo Carso represents a significant opportunity for Pemex and for Mexico’s energy development, especially in the deepwater context.

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