Quesqui, one of the fields that the state-owned Pemex designated as a priority at the beginning of the six-year term, accumulates an upward production streak and has become one of the main assets of the oil company.
The field is an active producer of condensates , natural gas liquids or very light hydrocarbons,
The field has grown its production considerably in recent months. The latest report from the National Hydrocarbons Commission, the sector’s regulator, says that last March Quesqui reached a production of 126,407 barrels per day. The latest Pemex data indicates something similar and dictates that during the last quarter the field reported 132,000 barrels per day.
Despite the difference in figures and in the way they are reported, the field has steadily increased its condensate production.
In a year-on-year comparison, taking into account what was reported by the oil regulator, Quesqui’s production increased by just over 110,000 barrels per day or 685% during the period. Last March it produced 16,086 barrels per day and in the same month this year 126,407 barrels per day.
The most important jump in production has occurred during March. Compared to a month before, the number of condensates extracted from the field increased by 30% or 28,796 barrels per day.
This increase in the production of Quesqui – which Pemex reports as crude – has partially offset the decline of Ku Maloob Zaap, the most important asset of the state company, which constantly reports falling figures, the regulator’s records refer.
Declaring Quesqui’s production as condensates would lead the oil company to report that its crude production is around 100,000 barrels lower than currently declared and that the strategy adopted has not been successful. Yesterday, in his conference with analysts, he assured that his crude oil production without partners is 1,755 million barrels per day.
In the list of priority fields – the plan on which Pemex based its strategy to increase crude oil production – Quesqui is placed as the only asset that exceeds a production of 100,000 barrels of crude oil, according to what was said yesterday in the conference call of the oil company
Despite the good production of condensates from Quesqui, the state-owned company remains far from the goal it established for the fields it designated as priority. The objective established by Pemex says that by 2024 these assets will add crude oil production above 2 million barrels per day.
But the latest data from the company dictate that until the first quarter of the year this figure reached 355,000 barrels per day. This issue includes the production of condensates from Quesqui and other fields such as Valeriana.
