Pit is a heavy oil development located in shallow water in Mexico and is operated by Petroleos Mexicanos. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Pit was discovered in 2005, lies in block AE-0165-Campeche Oriente, with water depth of around 384 feet. Buy the profile here.
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The project is currently in commissioning stage and is expected to start commercial production in 2024. The development cost is expected to be $13,184 m.
Field participation details
The field is owned by Petroleos Mexicanos.
Production from Pit
Production from the Pit heavy oil development project is expected to begin in 2024 and is forecast to peak in 2028, Based on economic assumptions, the production will continue until the field reaches its economic limit in 2053.
Contractors involved in the Pit heavy oil field
The key contractors involved in the Pit project as follows.
Design/FEED Engineering: OffshoreTech
About Petroleos Mexicanos
Petroleos Mexicanos (PEMEX) is a state-owned integrated oil and gas company. It operates across the value chain of the 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 a fleet of road transportation. The company sells gasoline and diesel in the domestic market through gas service stations under the PEMEX brand. The company also exports crude oil, natural gas, petroleum, and petrochemical products to international markets. PEMEX is headquartered in Mexico City, Mexico.
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This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
