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Mexico Explores Rich Shale Oil and Gas Resources
Posted: 07/29/2014 22:10:53  Hits: 922
It is reported by Mexican Economist Newspaper that Mexico is rich in shale oil and gas resources, with 545 billion cubic feet of technically recoverable amount and 13 billion barrels of unconventional oil. Abundant oil and gas resources make Mexico one of the most attractive countries for investors, especially for the ongoing energy reform that allows open production.
According to the research report about international development of unconventional energy released by Accenture, Burgos Basin, which is extended from the Eagle Beach Oilfield, is regarded as the third largest oilfield among all new potential large fields. Statistics of U.S. Energy Information Administration (EIA) show that natural gas reserves in Coahuila, Tamaulipas and Nuevo Leon may reach 393 billion cubic feet, namely 6.3 billion barrels of unconventional oil.
According to the conventional exploitation, 1.061 billion cubic feet of gas is produced in Burgos Basin every day, accounting for 18.2% of national total production. The area has transportation pipeline at present. Mexico Energy Reform may be released in August for the secondary reform bill, which will allow local oil companies to furthest develop the basin together with foreign investors.
Accenture's research indicates that the development of unconventional energy in Burgos Basin is meeting great challenges from competition of other energy. The national oil companies budget a little for the development of shale and plan for only 14 wells. Mexico oil companies need foreign investment to strength water supply and security especially.
Mexico Explores Rich Shale Oil and Gas Resources