Pemex to increase drilling in 2027 to boost reserves

Petróleos Mexicanos (Pemex) plans to increase its drilling activity in 2027 as part of a strategy to incorporate new hydrocarbon reserves and mitigate the decline of mature fields. According to the 2027 Federal Expenditure Budget Project (PPEF) presented by the Ministry of Finance and Public Credit (SHCP), the state-owned oil company aims to complete 259 wells during that year, an approximately 24% increase from the 209 wells scheduled for 2026.

The 2027 program includes 230 development wells and 29 exploratory wells. Through this initiative, Pemex seeks to incorporate 542.8 million barrels of crude oil equivalent in 3P reserves, representing a 98.1% increase compared to the 274 million barrels projected for the end of 2026. This move follows a significant decline in proven reserves (1P), which have decreased by more than 40% over the last 11 years.