The new guide for the exploration and extraction of oil in Pemex, Ángel Sid Munguía, was appointed to replace Nestor Martinez Romero. According to the document, obtained by journalists from El Financiero, he immediately indicated that as of May 6, a signal to resume work on previously closed oil wells is set to commence.
"Within my powers (...) I appoint you responsible for the Project Start of Closed Wells with actions starting from today's date, May 6, 2025," wrote Ángel Sid in a letter to the leader of the well strategy in Pemex, Jose Luis Gonzalez Uerta. He also noted that this appointment doesn't affect the salary scales and must strictly comply with the company's regulations and other applicable legislative and normative acts.
Ángel Sid also announced the appointment of Sergio Dionicio Renovato as responsible for planning and engineering infrastructure and facilities, while José Manuel Cancino is appointed as the director of strategic projects in Pemex's infrastructure.
The actions of the new Pemex guide for exploration and extraction are aimed at overcoming the rapid decline in production, which has been observed in recent months.
Recent data shows a critical situation in the company as it managed to extract only 1 million 344 thousand barrels of oil per day in March, representing a year-on-year reduction of 12.2 percent and being the lowest indicator for all time. Ramseis Pech valued that there are more than 5 thousand closed wells that could be reactivated if the necessary budget for work is available.
By the end of the first quarter of 2025, there were 3,803 oil wells in exploitation, representing a year-on-year reduction of 3.5 percent (136 wells). As for natural gas, there are 2,167 wells, which resulted in a 4.9 percent decrease compared to the previous period.
"At the current moment, approximately 80 percent of oil extraction represents 33 fields, of which Ku-Malob-Zapa accounts for 34 percent, while Kantarrel - 7 percent," said Ramseis Pech.
