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November 18, 2021

Yaxche Conventional Oil Field, Mexico

By Carmen

Yaxche is a producing conventional oil field located in shallow water in Mexico and is operated by Petroleos Mexicanos. The field is located in block A-0373-Yaxche, with water depth of 66 feet.

Three expansion projects are associated with the Yaxche conventional oil field, namely Yaxche Development Stage 2, Yaxche Development Stage 3 and Yaxche Development Stage 1. The expansion projects are currently in the commissioning stage, targeting start-up during 2021 – 2022.

Field participation details

The field is owned by Petroleos Mexicanos.

 

 

Production from Yaxche

The Yaxche conventional oil field recovered 29.49% of its total recoverable reserves, with peak production expected in 2022. The peak production will approximately 57.84 thousand bpd of crude oil and condensate and 18 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2073. The field currently accounts for approximately 1% of the country’s daily output.

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Remaining recoverable reserves

The field is expected to recover 322.6 Mmboe, comprised of 316.06 Mmbbl of crude oil & condensate and 39.22 bcf of natural gas reserves. Yaxche conventional oil field reserves accounts 0.07% of total remaining reserves of producing conventional oil fields globally.

 

 

Contractors involved in the Yaxche conventional oil field

Some of the key contractors involved in the Yaxche project as follows.

Main EPC: Construcciones Mecanicas Monclova, Cotemar and HOC Offshore S de RL de CV

EPC Contractors: Heerema International Group Services

Other Contractors: Schlumberger

About Petroleos Mexicanos

Petroleos Mexicanos (PEMEX) is a state-owned integrated oil and gas company. It operates across the value chain of oil and gas industry, from exploration and production to processing, logistics, and marketing. The company also produces and distributes a wide range of petrochemical products. PEMEX owns and operates oil refineries, petrochemical and gas processing complexes, land and maritime terminals, oil and gas pipelines, maritime vessels, and fleet of road transportation. The company sells gasoline and diesel in the domestic market through gas service stations under the PEMEX brand. It also exports crude oil, natural gas, petroleum and petrochemical products to international markets. PEMEX is headquartered in Mexico City, Mexico.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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