Mexico’s total proven hydrocarbon reserves, which include crude oil and natural gas, rose to 8.383 billion barrels of crude oil equivalent, the country’s regulator said on Tuesday in its annual reserves data announcement.
It brings together the reserves of state energy company Pemex and others that entered the country after a landmark energy reform that opened the market in an attempt to bring new technology, expertise and funding.
Proven reserves, or P1, are a country’s best estimate of resources that can be recovered from deposits with a reasonable level of certainty using the current technology available.
Data from the National Hydrocarbons Commission, or CNH, showed proven crude oil reserves fell to 5.978 billion barrels from 6.155 billion barrels a year earlier.
Meanwhile, proven natural gas reserves rose to 12.297 trillion cubic feet, up from 11.029 trillion cubic feet.
(Reuters reporting by Stefanie Eschenbacher and Adriana Barrera; Editing by Stephen Eisenhammer)
