Pemex, Slim's Grupo Carso Sign $1.9B Deal to Boost Ixachi Field Output
Mexico's state-owned oil and gas company, Petróleos Mexicanos (Pemex), has signed a significant contract with Grupo Carso, owned by billionaire Carlos Slim. The deal involves drilling 32 wells in the Ixachi field in Veracruz over the next three years, boosting Pemex's self-sufficiency efforts.
The Ixachi field, currently producing around 93,000 barrels of oil per day and 715 million cubic feet of gas, will see its output potentially increased by the new wells. Slim and Pemex have previously collaborated, agreeing last year to develop Mexico's first deepwater natural gas field, Lakach. This latest contract, worth US $1.991 billion, is set to begin in January 2027, with Pemex making 21 monthly payments provided at least 12 wells are in production.
Grupo Carso, with over 18 years of experience and a fleet of 19 land drilling rigs and three offshore rigs, brings a highly qualified workforce to the project. The company's expertise will be crucial in exploiting the onshore wells in the Gulf Coast state of Veracruz. President Claudia Sheinbaum's strategy to increase private partnerships in Pemex is expected to bear fruit with this deal, nudging the company towards self-sufficiency.
The contract between Pemex and Grupo Carso, if fully realized, could see the Mexican oil and gas giant earn the entire US $1.991 billion. This significant investment in the Ixachi field is set to enhance Pemex's production capabilities and aligns with President Sheinbaum's vision for the company's future.
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