Mexico’s state-owned Pemex aims to increase crude production to a three-year high of 1.91mn b/d by the end of 2020, as it reactivates wells shut in because of the downturn in the global oil markets. Chief executive Octavio Romero insists that the ambitious target, represent- ing an increase of almost a ffth on August fows of 1.61mn b/d, is achievable. But meeting the goal will depend on Pemex’s ability to start up the remainder of its 22 priority onshore and shallow-water felds earmarked for rapid development. The heavily indebted company has managed to drill just 23 production wells at 13 felds, generating 67,000 b/d at the end of July, despite plans to have all of the assets operational by the end of 2019.
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