UPDATE 1-Mexico sees 2009 oil output at 2.7-2.8 mln bpd

Thu Aug 14, 2008 11:02pm BST
 
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MEXICO CITY, Aug 14 (Reuters) - Mexico's state-run oil monopoly Pemex sees 2009 crude production at between 2.7 million and 2.8 million barrels per day, Carlos Morales, the head of exploration and production, said on Thursday.

Pemex estimates this year's production at around 2.8 million bpd.

Morales said the estimate was part of a forecast that Pemex was preparing to deliver to Congress as it debates a key energy reform bill.

"We are projecting ... in 2009 between 2.7 and 2.8 (million barrels per day)," Morales told reporters.

Pemex is grappling with a steady decline in output at its main oil field Cantarell and recently revised its projections for production levels at the end of 2008 to 2.8 million bpd, down from initial goal for the year of 3.0 million bpd.

President Felipe Calderon is trying to convince opposition lawmakers to back an energy reform that could give a shot in the arm to Mexico's struggling oil industry.

But officials admit it will be hard for Mexico to restore oil output to recent levels before 2020, even if the government wins approval from the nation's divided Congress for its plan to boost foreign investment in production efforts.

Pemex produced an average of 2.839 million bpd of oil in June. (Reporting by Jason Lange; Editing by Christian Wiessner)

 

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