Mexico’s national oil company Petróleos Mexicanos (Pemex) is targeting full-year average natural gas production of 4.67 Bcf/d in 2023, up 20% from the 3.88 Bcf/d averaged in the third quarter of 2022.

Pemex

The growth is expected to be led by new fields such as Quesqui and Ixachi, Pemex said in its recently released 2023-2027 business plan.

The 100% state-owned firm is aiming for production of 4.69 Bcf/d in 2024, followed by output of 4.89, 5.05 and 5.07 Bcf/d in 2025, 2026 and 2027, respectively. The production figures correspond only to projects in which Pemex holds a 100% working interest.

Upstream regulator Comisión Nacional de Hidrocarburos (CNH) published a less optimistic production outlook in October 2022.

Its most bullish production scenario showed Mexico’s total...