Major oil field discovered in Mexico

Mexican state oil and gas company Pemex has discovered a large oil field in the southeastern state of Tabasco, said head of the enterprise Octavio Oropeza, Report informs referring to TASS.

“Behind your back is an exploration well of the third giant field discovered during the operation of the current government (since December 2018), which is called Dzimpona-1,” said Oropesa. “Its initial reserves are estimated at 500-600 million barrels of oil.”

In 2020, the company lost 480.96 billion pesos (about $23 billion), compared to 2019, its net loss increased by 38 percent.

Mexican President Andrés Manuel López Obrador has repeatedly stated that he will pay special attention to the development of the oil industry. He said that oil production in the country until 2024 won’t exceed 2 million barrels per day. In 2020, this figure was at 1.64 million barrels.