« Global Warming - A Frightening Thought | Main | Game Theory: The Ball is Rolling.... »
March 8, 2006
Creative Math
By: Silvio
A bit of arithmetics.
This article on RIGZONE states that:
Pemex's Pit 1 field in the eastern Campeche area is producing 2,200 barrels of heavy crude a day initially, while the Ichalkil-1 field is producing 1,800b/d of light crude, according to the report.Pemex's Xanab-1 field, part of the company's light crude marine project, is producing 4,300b/d of light crude.
Meanwhile, Pemex's Niquel-1, Antiguo-8 and Caravana-1 fields in the Burgos basin are producing 3.8 million cubic feet a day (Mf3/d), 4.3 Mf3/d and 4.7Mf3/d respectively of unassociated natural gas, the report said.Finally, Pemex's Huace-1 field in Veracruz state is producing 5.3Mf3/d of unassociated natural gas, the report said.
So, this makes the total production from these new fields around 9300 b/d (production from the 4 new gas fields totals 18.1 Mcf/d: expressed as Barrels of Oil Equivalents this is 3000 barrels/day.)
On the other hand, from this same article we know that:
Pemex expects oil production from its Cantarell field, its largest oil field, will fall 6% to 1.91 million barrels a day in 2006 compared to 2005 and will keep falling to 1.68Mb/d in 2007 and 1.43M/d in 2008, depending on whether it receives the required investment amounts, the report said.
So the amount "lost" from the Cantarell oil field is 120,000 b/d (1.91 / .94 - 1.91)
Now, I guess even a child can understand that 120,000 b/d of lost production from Cantarell is A LOT MORE than the 6,300 of new crude coming from the newly discovered fields, right?
Yet, read this other article:
Mexico's state oil company Pemex plans to increase crude production 2.7% to 3.42 million barrels a day (Mb/d) in 2006 from 3.33Mb/d in 2005, Pemex said in its February 2006 outlook report.
WTF?!?
Posted by Silvio at March 8, 2006 8:15 PM Category: Peak Oil