Chicontepec Formation

Attempts at increasing output

In March 2006, Mexican President Vicente Fox announced that Pemex would invest US$37.5 billion over the next 20 years on the oil fields of Chicontepec. It was hoped that this will boost output to 1 million barrels per day (160×10³ m³/d). Pemex's chief executive estimates that 20,000 wells are to be drilled in order to exploit this field.

Intensive drilling has taken place in Chicontepec in recent years, starting with a contract for 500 new wells offered in December 2008. However, results in terms of output have been disappointing, with the field still yielding a modest 68,000 barrels per day (10,800 m³/d) in May 2012.