They amounted to 23,146 million barrels of crude oil equivalent (Mbpce), which increased annually by 0.3%.
Total hydrocarbon reserves as of January 1, 2024 in Mexico amounted to 23,146 million barrels of crude oil equivalent (Mbpce), which increased annually by 0.3%, growing in all categories for the second consecutive year, reported the National Hydrocarbons Commission (CNH) today, Tuesday.
The integral restitution rate of total reserves, which is the difference between what is discovered and what is produced, was 106%, lower than the 204% of the previous year, but it remained in the positive balance of exploration, since for For every barrel that was sold, 1.06 barrels were discovered.
These total or 3P reserves (which are the sum of the proven, probable and possible reserves with a commercial development potential of 10% thanks to the investments that have been made to find them and the costs and prices in the industry), were 0.3% higher than the previous year, which implied that due to discoveries and recategorization they increased by 65 Mbpce.
The next category, 2P reserves, which are the most probable proven ones with commercialization feasibility of 50%, stood at 15,530 million barrels of oil, with an increase of 2.6% or an additional 392 Mboe by 2022.
And the most relevant item, whose investments and context have allowed it to have development potential of up to 90%: the country's proven reserves or 1P totaled 8,383 million barrels of oil, increasing by 2.7% in one year, which They meant 221 million barrels of oil more than the previous year.
“We are pleased to show that this is the second consecutive year in which an upward trend is shown, thereby reversing the trend of decline in reserves that occurred from 2013 to 2022,” they detailed during the 37th ordinary session of the governing body. CNH government, “by 65 million (barrels of crude oil equivalent) more than last year, taking into account that 961 million barrels more were produced than last year.”
It was also highlighted that through development and evaluation work it has been possible to recategorize probable and possible reserves into more certain proven reserves.
Article 43 of the Hydrocarbons Law says that the CNH is responsible for quantifying reserves and prospective and contingent resources, as well as the annual consolidation of national information quantified by assignees and contractors.
Thus, the reservation figures were consolidated from the reports of 23 operators who have 486 fields (delimitation prepared by people) with reservations. In total, there are 793 deposits (geological layers found in the fields) with reserves in the country:
730 with primary recovery projects (where the natural pressure of the earth allows the hydrocarbons to escape).
60 with secondary recovery (in which some liquid or gas is injected to increase the outlet pressure).
And 3 with enhanced recovery projects (with chemicals or gases that change the composition of the reservoir to raise fluid pressure).
The operators that are betting on additional recovery are ENI, Hokchi, Woodside, Perenco and Pemex, as explained.
For the certification of reserves, prices by type of hydrocarbon were determined by the average of the market price of the first day of each month during the evaluation year, which in 2024 was between US$ 49 and US$ 92 per barrel before of taxes, which allows us to see the range of hydrocarbons that exist in the country.
