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''Mexico first discovered Chicontepec in 1926 but overlooked it for 75 years due to the difficult nature of the formations. It holds a multitude of small pockets of oil with low pressure and low permeability, making it difficult and expensive to get the oil out of the ground. Pemex has consistently missed its production targets at the basin. The company plans to invest $11.3 billion in Chicontepec over the next four years to lift production to 356,000 barrels a day, up from a trickle at present.'' [http://www.energy-pedia.com/article.aspx?articleid=133782]
''Mexico first discovered Chicontepec in 1926 but overlooked it for 75 years due to the difficult nature of the formations. It holds a multitude of small pockets of oil with low pressure and low permeability, making it difficult and expensive to get the oil out of the ground. Pemex has consistently missed its production targets at the basin. The company plans to invest $11.3 billion in Chicontepec over the next four years to lift production to 356,000 barrels a day, up from a trickle at present.'' [http://www.energy-pedia.com/article.aspx?articleid=133782]
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The proved oil reserves of Chicontepec place Mexico in a world 3rd place behind [[Saudi Arabia]] and [[Canada]].
== External links ==
== External links ==