Pemex saves more than 15,000 million in exploration and production

Pemex Exploration and Production (PEP), the subsidiary that absorbs 80% of the company’s budget, assures that it reduced by 15,260 million pesos in hydrocarbon production costs between September 2021 and June of this year, according to the Report of the fourth year of Government of the current administration.

Eduardo Poblano Romero, deputy director of Portfolio Management at Petróleos Mexicanos (Pemex), explained that this reduction was achieved thanks to the implementation of a cost agency that directs all the sub-directorates of the teams.

Between the end of 2021 and May 2022, savings of 27,000 million pesos were recorded, and by the end of the year they expect to reach up to 39,000 million pesos, explained Poblano.

Luis Fredy Chavarría Montalvo, cost specialist in the Portfolio Management Subdirectorate, asserted that Pemex Exploration and Production The objective of cost reduction has been raised, therefore, the Portfolio Management department is focused on establishing the regulations of the cost processes.

According to the report of the State productive company, this result is due to the optimization of well designs, the application of best international practices and the negotiation of more favorable contracting conditions for the company in the new wells.

Reduce costs in substantive operational processes, optimize contract conditions for goods and services, improve cost information management, stimulate awareness of a cost culture, and promote the development of reduction initiatives”, highlighted Chavarría Montalvo.

During 2022, Pemex assigned 3,830 million pesos in productive investment for the drilling of 309 wells in compliance with the National Plan for the Production of Hydrocarbons.

karol.garcia@eleconomista.mx