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Mexico

Pemex increases funding for gas exploration

23-Jan-2013

 

On 17 January 2013, the Energy Planning and Technology Development Undersecretariat announced that Petróleos Mexicanos’ (Pemex) investments in gas exploration grew from US$555 million in 2001 to nearly US$3 billion in 2012. According to Pemex’s Exploration and Production Division (PEP), in 2013, more investment will go toward regions of the country with potential sources of shale gas, the production of which declined by 8 percent per year between 2006 and 2008 before reaching a plateau.

 

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