The Lakach field is being celebrated as a potential gateway to a new gas front in the Mexican deep sea.

Pemex had requested an update of the field’s production strategy regarding the recovery and closure of wells, production management and the commercialization of hydrocarbons.

Of the $2.218 billion in costs approved by regulator CNH for 2024 and 2041, $1.667 billion is for capital expenditure and $551 million for operating expenses.

An earlier plan approved last year for the period 2024-2035 had an estimated value of $1.815 billion. The production date was also pushed back from 2025 to 2026.

Recently, Grupo Carso, owned by Mexican billionaire Carlos Slim, signed an exploration and production services contract with Pemex. The company announced an investment of US$1.2 billion.

Pemex has said it spent about $1.4 billion on Lakach, a project that has already been put on hold twice. Pemex and New Fortress Energy parted ways in late 2023 after failing to agree on terms.

In addition, the project now envisages the construction of gas pipelines underground – instead of using boats to collect and transport the gas as previously planned.

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World Pipelines’ August 2024 Issue

The August 2024 issue of World Pipelines includes a main section on pipeline project management, as well as technical articles on inspection, condition assessment, maintenance and surface preparation. We also cover OT software, CO2 and hydrogen pipelines, and pipeline construction topics.